The EUR/USD exchange rate extended its losses in intraday trading on March 27, 2025, as the market continues to be dominated by a downward correction. The price is currently trapped within a narrow channel, influenced by a negative technical pattern, specifically the Double Top pattern, which has contributed to the ongoing decline.
Despite the Stochastic indicator signaling oversold conditions, it continues to issue negative signals, reinforcing the bearish outlook for the currency pair. Additionally, the price remains below the 50-period simple moving average (SMA), further supporting the downward momentum.
While the broader trend remains bullish, recent price movements appear to be part of a corrective phase. Traders are advised to closely monitor the EUR/USD as it approaches key support levels, watching for any potential signs of reversal that could signal a shift in the current trend.
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