FX.co ★ EUR/USD

T E C H N I C A L _ A N A L Y S I S E U R / U S D Hi, I will evaluate the performance of EUR/USD in the upcoming trading sessions. Let's assess the behavior of the price of EUR/USD. EUR/USD is trading at 1.0420 at the time of writing. This time frame chart indicates that EUR/USD is anticipated to appreciate versus the dollar. Corrections are few, indicating that bearish potential is still present. On this time frame chart of EUR/USD, I observed that The Relative Strength Index (RSI) indicator touched 41 levels, so its price seems negative, which is why the price has been moving in range since last week. At the same time, the chart for EUR/USD shows a bearish divergence on the moving average convergence divergence (MACD) indicator. However, the price may remain stable or even increase. It will be important to keep an eye on the 20-Exponential Moving Average (EMA) and 50-Exponential Moving Average (EMA) respectively located at $1.0977 and $1.0824, before predicting a decline in the price of EUR/USD.

The horizontal resistance is located at 1.1201, which serves as an important resistance. An upward breach of the $1.1201 barrier might swiftly push the price of EUR/USD beyond $1.2326. The top at $1.3910 will then be the EUR/USD bulls' main goal after that which is the third level of resistance. On the other hand, for now, we expect an attempt to develop a correction and test the support level near the 0.9542 area. After that, the horizontal support is located at 0.9008, which serves as important support and which is the 2 nd level of support. After that, EUR/USD will decline further toward the 0.8589 level of support which serves as the last line of defense for the EUR/USD sellers. It's a great honor when someone gives me thanks for sharing any successful trading analysis. The indicators used in the chart: MACD indicator: RSI indicator period 14: 50-day exponential moving average color Orange: 20-day exponential moving average color Magenta: