The 1-hour chart of EUR/USD suggests continued bearish momentum, though a temporary price bounce may be on the horizon. The pair is currently trading around 1.15589, struggling below the 9-period Simple Moving Average (SMA). This indicates that short-term trend pressure remains bearish.
🔍 Technical Overview
✅ Price Action:
The market recently made a lower low, touching near 1.15400 before showing a minor rebound.
Sellers have clearly been in control, forming a strong sequence of bearish candles.
The SMA 9 is trending downward and is acting as dynamic resistance, confirming bearish pressure.
📊 Indicators:
SMA 9 (close): Price is still trading below the moving average, indicating that the pair is in a short-term downtrend.
RSI 14 (Relative Strength Index): The RSI has dropped below the 40 level, which shows bearish momentum. However, the RSI has started to curl upward, suggesting a minor relief rally may occur — but it’s too early to confirm a reversal.
📈 Possible Trade Setups:
🔻 Sell on Pullback (Preferred):
Sell Entry: Near 1.15750–1.15800 (around SMA resistance)
Stop Loss: 1.16050
Take Profit: 1.15300 / 1.15000
⚠️ Cautious Buy (Aggressive):
If RSI breaks above 50 and price closes above SMA 9, short-term buying could be considered, but overall bias remains bearish until reversal confirmation.
🔧 Support & Resistance Levels:
LevelPriceResistance1.15850Resistance1.16000Support1.15350Support1.15000
📌 Conclusion
EUR/USD remains in a short-term bearish trend, with sellers dominating price action. While a minor RSI bounce is visible, the price still trades under SMA resistance, making “Sell on Rally” the more favorable strategy. Traders should be cautious of any news-driven volatility and wait for strong confirmation before entering aggressive buy trades.
🔍 Technical Overview
✅ Price Action:
The market recently made a lower low, touching near 1.15400 before showing a minor rebound.
Sellers have clearly been in control, forming a strong sequence of bearish candles.
The SMA 9 is trending downward and is acting as dynamic resistance, confirming bearish pressure.
📊 Indicators:
SMA 9 (close): Price is still trading below the moving average, indicating that the pair is in a short-term downtrend.
RSI 14 (Relative Strength Index): The RSI has dropped below the 40 level, which shows bearish momentum. However, the RSI has started to curl upward, suggesting a minor relief rally may occur — but it’s too early to confirm a reversal.
📈 Possible Trade Setups:
🔻 Sell on Pullback (Preferred):
Sell Entry: Near 1.15750–1.15800 (around SMA resistance)
Stop Loss: 1.16050
Take Profit: 1.15300 / 1.15000
⚠️ Cautious Buy (Aggressive):
If RSI breaks above 50 and price closes above SMA 9, short-term buying could be considered, but overall bias remains bearish until reversal confirmation.
🔧 Support & Resistance Levels:
LevelPriceResistance1.15850Resistance1.16000Support1.15350Support1.15000
📌 Conclusion
EUR/USD remains in a short-term bearish trend, with sellers dominating price action. While a minor RSI bounce is visible, the price still trades under SMA resistance, making “Sell on Rally” the more favorable strategy. Traders should be cautious of any news-driven volatility and wait for strong confirmation before entering aggressive buy trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.