- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Pair slips to 1.0500, deepens losses below 20-day SMA
EUR/USD Price Analysis: Pair slips to 1.0500, deepens losses below 20-day SMA
- EUR/USD declines further on Thursday, deepening losses below the 20-day SMA.
- RSI remains flat at in negative territory, signaling persistent bearish momentum.
- MACD histogram continues to print decreasing green bars, highlighting fading bullish traction.
The EUR/USD pair extended its downside on Thursday, slipping to 1.0500 and further distancing itself from the 20-day Simple Moving Average (SMA). This sustained loss of key technical support underscores the bearish outlook, with the pair struggling to find any signs of recovery.
Technical indicators remain aligned with the bearish trend. The Relative Strength Index (RSI) is flat at 40, firmly in the negative territory, reflecting ongoing selling pressure and the lack of bullish momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram continues to show decreasing green bars, signaling a persistent fade in bullish traction.
With the pair trading below the 20-day SMA near 1.0530, the downside risks remain prominent. Immediate support lies at the psychological level of 1.0500, followed by the 1.0480 area. To negate the bearish bias, EUR/USD would need to reclaim the 20-day SMA and break above 1.0600 to reinstate a constructive outlook and revive bullish momentum.
EUR/USD daily chart
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
