The EURUSD currency pair is currently exhibiting increasingly strong selling signals, as evidenced by the position of the Moving Average (MA) sitting above the price level, indicating that downward momentum is strengthening. This situation suggests that bearish pressure is beginning to dominate the market, with prices likely continuing to decline in the short term. The MA acting as a dynamic resistance makes it challenging for buyers to penetrate, further reinforcing the dominance of sellers within this market.
Furthermore, the MACD indicator also offers additional confirmation as it recently moved into negative territory. The expanding histogram of the MACD in the negative area confirms that the downward momentum is becoming more pronounced and that selling pressure remains active. The combination of these two technical indicators presents a strong signal that EURUSD may continue its downward trend.
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Bollinger Bands beginning to slope downward on the 15-minute timeframe indicate that bearish pressure is intensifying for the EURUSD pair. This scenario is supported by the MACD remaining in the negative zone, reflecting active downward momentum. The signal combination from both technical indicators hints at potential weaknesses that may test the level of 1.12820.
Technical Reference: sell position below 1.13965
Potential Stop Loss 1: 1.13755
Potential Stop Loss 2: 1.13965
Potential Take Profit 1: 1.13010
Potential Take Profit 2: 1.12820
