EURUSD is currently testing the long-term support zone spanning 1.02–1.0650, which has acted as a critical pivot for over a decade. Price has recently pulled back from the lower highs trendline (~1.22) and is hovering near the 50-period and 200-period MAs on the weekly chart. Traders should watch this multi-year support closely as a reaction here may define the medium-term trend.
Trend Structure
Long-term: Downtrend from 2018 highs forming lower highs
Short-term: Price rebound attempt from multi-year support zone
Market structure: Lower highs aligned with downward trendline
Support / Resistance
Support Zone: 1.02–1.0650 (11-year support)
Resistance: 1.18–1.22 (lower highs)
Moving Averages
50-period MA: 1.16705 – near current price, acting as dynamic resistance
200-period MA: 1.09769 – lower support, aligned with multi-year zone
Indicators Visible
RSI (14) ~48.6 – neutral, not oversold or overbought
Momentum: short-term bearish bias under MA50
Chart Pattern
Long-term descending trendline from 2018 highs
Multi-year support box at 1.02–1.0650
Potential double-bottom forming if 1.0650 holds
Momentum
Weekly momentum: neutral to slightly bearish
Short-term bearish bias confirmed under MA50
Bullish Scenario
Price holds above 1.0650
Potential rebound toward 1.11 resistance
RSI stabilization could trigger a medium-term bounce
Bearish Scenario
Breakdown below 1.0650
Measured move toward 1.02 support
Continuation of downward trend confirmed under MA50
Key Conclusion
EURUSD is at a pivotal support zone that will define whether the pair stabilizes or continues the multi-year downtrend. Reaction near 1.0650 is critical for medium-term positioning.
Discussion Question:
Will EURUSD defend the 11-year support zone, or are lower levels inevitable?
Trend Structure
Long-term: Downtrend from 2018 highs forming lower highs
Short-term: Price rebound attempt from multi-year support zone
Market structure: Lower highs aligned with downward trendline
Support / Resistance
Support Zone: 1.02–1.0650 (11-year support)
Resistance: 1.18–1.22 (lower highs)
Moving Averages
50-period MA: 1.16705 – near current price, acting as dynamic resistance
200-period MA: 1.09769 – lower support, aligned with multi-year zone
Indicators Visible
RSI (14) ~48.6 – neutral, not oversold or overbought
Momentum: short-term bearish bias under MA50
Chart Pattern
Long-term descending trendline from 2018 highs
Multi-year support box at 1.02–1.0650
Potential double-bottom forming if 1.0650 holds
Momentum
Weekly momentum: neutral to slightly bearish
Short-term bearish bias confirmed under MA50
Bullish Scenario
Price holds above 1.0650
Potential rebound toward 1.11 resistance
RSI stabilization could trigger a medium-term bounce
Bearish Scenario
Breakdown below 1.0650
Measured move toward 1.02 support
Continuation of downward trend confirmed under MA50
Key Conclusion
EURUSD is at a pivotal support zone that will define whether the pair stabilizes or continues the multi-year downtrend. Reaction near 1.0650 is critical for medium-term positioning.
Discussion Question:
Will EURUSD defend the 11-year support zone, or are lower levels inevitable?
thecryptagon.com covers news & insights on global markets (crypto, forex, stocks, commodities)
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
thecryptagon.com covers news & insights on global markets (crypto, forex, stocks, commodities)
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
Institutional services offered:
💰 Daily consulting
💰 Account management
💰 Mentorship
Contact: t.me/thecryptagon | info@thecryptagon.com
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.