EURUSD Technical Analysis: Weekly Chart

In the weekly charts, EURUSD is trading in a down channel. EURUSD is currently trading below all SMA.

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

Its immediate support is 0.97900 the resistance level is at 0.98145

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

EURUSD Technical Analysis: Daily Chart

In the daily 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 0.97900 the resistance level is at 0.98150

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

How to Trade EURUSD this Week:

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

TRADE SUGGESTION- SELL AT 0.98067, TAKE PROFIT AT 0.97900 AND STOP LOSS AT 0.98140.