EURUSD Still Likely to Decline, Bearish Channel and Downward Signals from MA and MACD as Triggers

The currency pair EURUSD continues to display a likelihood of decline, with prices remaining within a bearish channel, indicating a strong signal that selling pressure is still prevalent. The combination of technical indicators such as the downward-sloping Moving Average (MA) and confirmation from the MACD displaying bearish signals reinforces the potential for a continuation of the downward trend.

In technical analysis, a bearish channel suggests that prices are likely to oscillate within a descending trend range. The MACD indicator showing negative histogram values and the signal line positioned below the zero level further emphasizes the bearish momentum.

ADS

Regulated

FBS

This company is verified and recommended for traders.

FBS: Cyprus 15 years MT4/MT5 Full Licence
Recommended

Regulated

OctaFX

OctaFX: Cyprus 13 years MT4/MT5 Full Licence
Recommended

Regulated

FXCM

This company is verified and recommended for traders.

FXCM: Australia 25 years MT4/MT5 Full Licence
Recommended

Regulated

MIFX MONEX

MIFX MONEX: Indonesia 24 years MT4/MT5 Full Licence
Recommended

Complementing the analysis of the one-hour chart, the 15-minute chart for EURUSD presents further bearish opportunities, as the CCI indicator resides in extreme bearish territory. This suggests the possibility of pushing EURUSD down towards the support level of 1.03675.

Technical Reference: sell while below 1.04335
Potential Stop Loss 1: 1.04215
Potential Stop Loss 2: 1.04335
Potential Take Profit 1: 1.03780
Potential Take Profit 2: 1.03675