EURUSD Stays Bearish Despite Its Consolidation Around the Level at 1.0780

EURUSD Stays Bearish Despite Its Consolidation Around the Level at 1.0780

EURUSD Price Analysis – April 6

The EURUSD currency pair stabilized throughout the 1.0780 regions during its last preceding trading session up to this point. The pair retained its consolidation even since early Monday. fThis Monday, a light of optimism is raising optimism while EURUSD was unable to take any notice of the fair sentiment.

Key Levels
Resistance Levels: 1.1495, 1.1285, 1.0879
Support Levels: 1.0700, 1.0635, 1.0569

EURUSD Long term Trend: Bearish

EURUSD has been under pressure beneath the level of 1.0879 whilst trading underneath the main 5 and 13 (daily moving average), although this Monday’s session is trying to consolidate progress. The pair passed the day hovering all over the threshold of 1.0780.

In the broader context, the entire downtrend from 1.2555 (high) level may still be ongoing as long as the 1.1495 resistance level remains. The next goal is to level of 1.0569 (low). Nevertheless, a continuous break of 1.1495 level may suggest that such a downward trend is over.

EURUSD Short term Trend: Bearish

The short-term scenario is bearish, as the pair progresses below bearish moving averages in the 4-hour chart, with the 5 and 13 moving averages advancing south to break the support level of 1.0780.

However, technical indicators had passed the day without direction within negative ranges, keeping the uncertainty concentrated to the downside without more declines being established anticipated.

Instrument: EURUSD
Order: Sell
Entry price: 1.0780
Stop: 1.0879
Target: 1.0700

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.