The EURUSD is exhibiting a significantly strong bearish trend according to various technical indicators. The Moving Average (MA) is currently positioned above the price action, serving as a dynamic resistance that hinders any upward movement. The price action has formed a pattern characterized by lower highs and lower lows, indicating a prevailing selling pressure. Should this trend persist, further weakening of the pair seems probable, with prices likely continuing in a downward trajectory.
The MACD also verifies the bearish signal, with a negative-moving histogram and the MACD line having crossed below the signal line. The selling momentum remains strong, reflecting the ongoing dominance of bearish pressure. As long as the technical indicators do not display any significant directional changes, EURUSD will continue under a weakening scenario.
Recommended
Recommended
Recommended
Recommended
On the 15-minute timeframe, the bearish structure of EURUSD comes into sharper focus with lower highs and lower lows revealing a pronounced bearish trend. Currently, prices are trading below the 24 MA, which acts as a dynamic resistance, reinforcing further decline signals. If selling pressure continues, EURUSD could plunge deeper toward the support level of 1.04320.
Technical Reference: sell below 1.04930
Potential Stop Loss 1: 1.04795
Potential Stop Loss 2: 1.04930
Potential Take Profit 1: 1.04435
Potential Take Profit 2: 1.04320
