The EURUSD currency pair remains susceptible to bearish pressures. Technical indicators like the Moving Average (MA) and MACD are providing strong confirmation of the ongoing downward trend. Currently, the price is trading below the 24-period MA line, indicating a prevailing selling pressure in the market.
The MACD indicator further reinforces the bearish signal, with the histogram consistently remaining in negative territory and the MACD line positioned below its signal line. This technical pattern suggests that the bearish momentum is still very much alive.
Recommended
Recommended
Recommended
Recommended
In alignment with the analysis from the hourly chart above, on the 15-minute chart, EURUSD is also showing a bearish opportunity as the price has successfully broken through the bullish channel, indicating a continuation of the decline. Additionally, the OsMA is currently in the negative zone, bolstering the bearish signal. This situation presents the possibility of pushing EURUSD down towards the support level at 1.02415.
Technical Reference: sell while below 1.03395
Potential Stop Loss 1: 1.03200
Potential Stop Loss 2: 1.03395
Potential Take Profit 1: 1.02600
Potential Take Profit 2: 1.02415
