EURUSD Price: Bear Are Protecting $1.17 Level

Sellers are returning after a pullback

EURUSD Price Analysis – 25 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 daily chart’s big bearish engulfing candle shows that the downward trend started at $1.17. The bears are against the price trend. The price began to rise as bulls gained strength. It broke the $1.12 barrier. As the upward trend gained momentum, the price was approaching the $1.17 barrier. The aforementioned level was clearly the apex of a rising trend. To ensure the purchase, the sellers kept offers from exceeding their upper 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 every effort to maintain the 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 is visible at $1.17. The price started to drop as it got closer to $1.17. When the double top chart pattern appeared and the upward momentum slowed, bearish reversion began. Big bearish candles appeared when the price was below the Hull Suite signal. The sum dropped to $1.16 from $1.17. The cost is $1.16 per item.

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

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