

The EUR/USD chart displays a notable bearish trend with consistent selling pressure. The asset is currently testing consolidation zones that have previously acted as significant levels.
Overall, the sentiment leans towards caution, given the absence of strong volume indicating a major move.
The chart displays a series of red candlesticks, which suggests a prevailing bearish trend.
A small green candle is forming, indicating a potential reversal or a short pause in the bearish momentum.
The trend reveals lower highs and lower lows, confirming the bearish sentiment.
The MACD line is below the signal line, highlighting ongoing bearish momentum.
The MACD histogram is negative but contracting, hinting at waning bearish momentum and the possibility of a reversal.
Currently, there are no apparent divergences between the MACD and price action.
Volume levels are steady, without significant spikes, implying consistent selling pressure.
The lack of volume spikes during the downtrend suggests an orderly sell-off rather than panic selling.
No unusual volume spikes are observed, suggesting a lack of large institutional activity.
Short-term support is identified around 1.1640 to 1.1650. A break below could lead to further declines.
Resistance is noted near 1.1750, which aligns with previous price rejections.
These levels are crucial to watch for potential shifts in market dynamics.
Bears might consider selling on rallies towards the 1.1750 resistance, with stops just above.
Bulls should look for reversal confirmations, such as bullish patterns or increased volume, before entering buys.
Monitor the MACD histogram for contraction and potential crossovers, and watch the 1.1650 support level closely.



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Secured By SSL. Copyright © Axia Trade. All rights reserved. 2024
Company Information: This website (www.axiainvestments.com/) is operated by Smarttool Trading SC Limited, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD034. Smarttool Trading SC Limited is located at Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.
Partner company Marketvalley Ltd provides business operation services for Smarttool Trading SC Limited, office address: Archiepiskopou Makariou III, 198 Marinos Court, 1st Floor, Flat/Office 13, 3030, Limassol Cyprus, registration number HE415749.
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Smarttool Trading SC Limited does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Smarttool Trading SC Limited does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Smarttool Trading SC Limited is not a financial adviser.