EURUSD Price: Bearish Breakout at $1.04 Support Level, Exposes to $1.02 Level

Updated:

EURUSD Price Analysis – June 13

Should the buyers defend the support level of $1.04, the price may increase above the resistance level of $1.06, then, price may increase to test the resistance level of $1.07, which may extend to $1.09 level. The Relative Strength Index period 14 is at 37 levels with the signal line pointing down to indicate a sell signal.

EUR/USD Market

Key Levels:

Resistance levels: $1.06, $1.07, $1.09

Support levels: $1.04, $1.02, $1.01

EURUSD Long-term Trend: Bearish

EURUSD is bearish on the long term outlook. Buyers could not dominate the EURUSD market any longer when the price tested the high of $1.07 resistance level on June 09. Sellers gain momentum and the price decrease, it broken down the support level of $1.06. The support level of $1.04 is tested yesterday. The price is trying to break down the support level of $1.04, in which the price will be expose to support level of $1.02.

EURUSD is trading below the 9 periods EMA and the 21 periods EMA. The two EMAs were penetrated downside by the bears’ pressure. In case the bears break down the support level of $1.04, the price may reach support levels of $1.02 and $1.01. Should the buyers defend the support level of $1.04, the price may increase above the resistance level of $1.06, then, price may increase to test the resistance level of $1.07, which may extend to $1.09 level. The Relative Strength Index period 14 is at 37 levels with the signal line pointing down to indicate a sell signal.

EURUSD medium-term Trend: Bearish

EURUSD is bearish in the medium-term outlook. Last week, the price was dangling within the resistance level of $1.07 and the support level of $1.06. The mentioned resistance level holds the price and the bulls’ momentum is not sufficient to break up the level. The bears’ pressure terminate ranging movement by exert pressure which push the price to penetrate the support level of $1.04. It is currently targeting $1.02 level.  The price is trading below the 9 periods EMA and 21 periods EMA, the two EMAs are separated from each other as a sign of high momentum in the market. Relative Strength Index period 14 is pointing down at 19 levels which indicate a sell signal.

You can purchase Lucky Block here. Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.