EURUSD Price: Bear Are making Effort to Maintain a Bearish Trend

Price may continue to reduce

EURUSD Price Analysis – 18 August

Buyers may be able to raise the price to the $1.18 and $1.19 barrier levels if they can overcome the resistance level at $1.17. If sellers can hold the price below the $1.16 barrier, prices can drop below the $1.15 and $1.14 support levels..

EUR/USD Market

Key Levels:

Resistance levels: $1.17, $1.18, 1.19

Support levels: $1.16, $1.15, $1.14

 EURUSD Long-term Trend: Bearish

The bearish trend started at the $1.17 level, according to the daily chart’s powerful bearish engulfing candle. The bears oppose the price inclination. The price began to rise as bulls gained strength. It broke the $1.12 barrier. As the upward trend gains momentum, the price was approaching the $1.17 barrier. The aforementioned level clearly marked the pinnacle of a favorable trend. To ensure the deal, the sellers kept offers from exceeding their limit. More sellers entered the market as the price dropped and approached $1.15. At the moment, bears are protecting the $1.17 barrier level. At the moment, it is making a lot of effort to maintain a bearish trend.

According to the recommendations of the forex signal, the Hull Suite shows that the market is falling. Buyers may be able to raise the price to the $1.18 and $1.19 barrier levels if they can overcome the resistance level at $1.17. If sellers can hold the price below the $1.16 barrier, prices can drop below the $1.15 and $1.14 support levels.

EURUSD medium-term Trend: Bearish

A medium-term bearish reversion was verified for the EURUSD. For almost two weeks, there has been positive pressure on the currency pair. A double top chart pattern may be spotted at $1.17. The price started to drop as it got closer to $1.17. When the double top chart pattern appeared and the positive momentum waned, bearish reversion began. The price formed big bearish candles when it was below the Hull Suite signal. The sum dropped to $1.16 from $1.17. Each item costs $1.16.

It is currently less expensive than the Hull Suite. A declining slope is indicated by a lower QQE MOD score.

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