EUR/USD Intraday Analysis – Bearish Momentum Continues with WeakThe 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.
