Buyers’ pressure is increasing
EURUSD Price Analysis –16 September
If buyers can break through the resistance level at $1.11, they can push the price higher to the $1.12 and $1.13 barrier levels. If sellers are successful in holding the price below the $1.10 barrier, prices may go below the $1.09 and $1.08 support levels.
EUR/USD Market
Key Levels:
Resistance levels: $1.11, $1.12, $1.13
Support levels: $1.10, $1.09, $1.08
EURUSD Long-term Trend: Bullish
It is expected that the EURUSD will incline further. The currency pair picks up steam on April 17 and climbs into the $1.09 region. The bears had lost their strength. The price began to rise as bulls gained traction. The resistance range of $1.09–$1.10 was crossed. It hit $1.11, its previous high. Because the buyers were interested in the deal, the sellers did not allow them to increase their offer above the ceiling. The price dropped to about $1.10 as more sellers entered the market. Bulls are working hard right now to break above $1.11 per share.
The Hull Suite indicates that the market is performing well as compared to the forex signal recommendations. If buyers can break through the resistance level at $1.11, they can push the price higher to the $1.12 and $1.13 barrier levels. If sellers are successful in holding the price below the $1.10 barrier, prices may go below the $1.09 and $1.08 support levels.
EURUSD medium-term Trend: Bullish
A bullish turn around in the EURUSD is expected in the medium run. The currency pair has been under upward pressure for the last three weeks. At $1.08, a double bottom chart pattern emerges. The price began to rise as it approached $1.09 and eventually passed it, but it was unable to break through to the $1.12 mark. Large bullish candles were produced by the price since it crossed above the Hull Suite signal. The amount increases to $1.11 from $1.09. The unit cost is getting close to $1.11.
Right now, it costs more than Hull Suite. A higher QQE MOD score indicates an increasing slope.
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