EURUSD Buy or Sell Key Levels & Market Insights You Need to Know!
EURUSD Buy or Sell Key Levels & Market Insights You Need to Know!
EURUSD Buy or Sell Key Levels & Market Insights You Need to Know!
EURUSD Buy or Sell? Key Levels & Market Insights You Need to Know!
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Chart Pattern
- Ascending trend: The price has been making higher highs and higher lows in an uptrend.
- Recent consolidation: The price is forming a rising wedge or channel pattern, indicating a potential breakout or breakdown.
- Breakout attempt failed? There’s a small rejection near the upper resistance zone, suggesting profit booking or weakness.
- Support level: The price is currently testing the lower trendline support.
Upcoming Events (Factors to Watch)
- Economic data releases (CPI, jobs report, Fed meetings) – Could influence market direction.
- Earnings announcements – If applicable, stock-specific earnings could impact momentum.
- Global market sentiment – Any macroeconomic or geopolitical event affecting investor confidence.
Volume Analysis
- Decreasing volume on rally – Indicates a weakening uptrend, potential distribution.
- Volume spike on recent drop – Suggests sellers are active, possibly a warning signal.
- Need confirmation – If a breakdown occurs, watch for a volume surge for confirmation.
Observations
- Momentum cooling off: RSI is near 37, close to oversold but not extreme.
- Momentum indicator at 99.31: Shows a sharp decline, signaling loss of strength.
- 200 MA support: Price is still above the long-term moving average, so a bounce is possible.
- Trendline holding (for now): As long as it doesn’t break below, bulls have a chance to defend support.
Final Takeaway
- Neutral to bearish bias – Watch for confirmation.
- If support holds → Possible rebound to retest recent highs.
- If breakdown happens → Strong bearish move expected.
Breakout Strategy (Bullish)
- Entry: Above 1.0920 (Previous Resistance).
- Stop loss: Below 1.0800 (Support Zone).
- Target 1: 1.1050 | T2: 1.1200 | T3: 1.1350
Breakdown Strategy (Bearish)
- Entry: Below 1.0800 (Trendline Breakdown).
- Stop loss: Above 1.0900 (Last Swing High).
- Target 1: 1.0700 | T2: 1.0600 | T3: 1.0500
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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