Is EURUSD Heading Towards New Lows? MA and MACD as Catalysts

The EURUSD currency pair might be indicating weakness, as technical indicators like Moving Average (MA) and MACD are providing increasingly strong bearish signals. Currently, the price is trading below the 24-period MA, suggesting a prevailing selling pressure.

Meanwhile, the MACD histogram is in negative territory with a declining signal line. This situation highlights solid bearish momentum, creating opportunities for the EURUSD to test lower support levels.

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Aligning with the hourly chart analysis above, on the 15-minute chart, EURUSD also presents a bearish opportunity as the price has broke through the bullish channel, indicating a continuation of the downward trend. Currently, the OsMA indicator is in the negative zone, reinforcing the bearish signal. This situation could push the EURUSD lower towards the support level of 1.02415.

Technical Reference: sell 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