EURUSD Technical Analysis: Weekly Chart

In the weekly charts, EURUSD is trading in a down channel. EURUSD is currently trading below all SMA except MA (5).

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.00600 the resistance level is at 1.01800

EURUSD will trade in a down channel until there is a trend reversal.

EURUSD Technical Analysis: Daily Chart

In the daily charts, EURUSD was trading in a down channel. EURUSD is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.01200 the resistance level is at 1.01800

EURUSD was traded in a down channel before there is a breakout upside.   

How to Trade EURUSD this Week:

EURUSD will follow the downtrend until its trend reversal. So, remain bearish on EURUSD

TRADE SUGGESTION- SELL AT 1.01427, TAKE PROFIT AT 1.01200 AND STOP LOSS AT 1.01800