**Momentum Indicators** Support levels stand at 1.1144, 1.1106, and 1.1094. Resistance is likely at 1.1193, 1.1209, and 1.1222. These resistance levels could limit recovery efforts as the pair remains in a downward trend. By understanding these movements and technical signals, you can better evaluate the current market conditions and potential future directions of the EUR/USD pair. **Technical Data Analysis** The pair is trading just below a key psychological level. It has given up some recent gains and is showing signs that favor sellers, at least for now. There is persistent pressure from the top, and those focusing on shorter timeframes will have seen the price trying—and failing—to push higher. Resistance in the upper 1.11s to low 1.12s remains strong, making many hesitate to take aggressive long positions. Most technical data indicates that a downward movement is still more likely. Short-term moving averages suggest continued declines. However, this doesn’t completely exclude short upward movements; it simply advises caution when chasing any upward reversals without clear confirmation. Relative strength shows a lack of conviction as well. We would hope to see an increase in the RSI to support bulls, but instead, the market seems to lack energy. The MACD is moving further into negative territory, reinforcing the selling trend, while the ADX shows enough directional movement to indicate that sellers still have control. Oscillators like the Awesome Oscillator and Ultimate Oscillator aren’t providing clear signals, suggesting that momentum remains hesitant and not fully committed. We also need to consider where key turning points are located. The support zone around 1.1106 holds, but it’s not completely secure. If selling picks up speed, deeper stops could be triggered below 1.1094, leading to sharper downtrends. Conversely, if rebound attempts exceed 1.1193 or touch 1.1222, there must be quick follow-through; otherwise, prices are likely to return to familiar ranges. From our viewpoint, there’s enough uncertainty to take a more cautious stance. It’s tempting to react to immediate patterns, but insights from multiple timeframes are essential. Short-term indicators suggest a negative bias, but broader trends remain somewhat neutral. This tension between short-term pessimism and medium-term balance is critical, especially for those trading with leverage or tight expiry times. We will continue to monitor levels closely, treating 1.1144 as a crucial point. There’s no indication to abandon our existing strategies yet, but adapting to fluctuating confidence is key to navigating this market effectively. Overall, the signals suggest being cautiously opportunistic, with sell-side activity showing more strength than any recovery attempts. Create your live VT Markets account and start trading now.

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