EURUSD Price: Bearish Momentum Is Increasing

Price is targeting $1.17 level

EURUSD Price Analysis – 02 February

The price may rise to the $1.19 and $1.20 levels if buyers are able to overcome the $1.18 resistance. There may be a drop below the $1.16 and $1.15 support levels if sellers are successful in maintaining the price below the $1.17 level.

EUR/USD Market

Key Levels:

Resistance levels: $1.18, $1.19, $1.20

Support levels: $1.17, $0.1.16, $1.15

 EURUSD Long-term Trend: Bearish

A sizable bullish engulfing candle on the daily chart indicates that the price increase began near $1.15. The price started to rise, and the bulls are keeping on the upward trend. As the positive trend grew stronger, the price started to rise. The price is reached the high of $1.20 resistance level as the positive trend continues after breaking through the $1.18 barrier.

Are We Going to Get Bullish Momentum This Week on $EURUSD?

#EURUSD Daily outlook👁 pic.twitter.com/lz6DLpIAmm

— Hussaini YS (@Hussaini_YS) February 1, 2026

It is obvious that the previous level was the lowest point in a bearish trend. A strong barrier to subsequent price rise is offered by sellers. When the price approached $1.20, more dealers joined the market. The bears are currently defending the $1.18 level in an attempt to prolong the declining trend.

The Hull Suite indicates that the market is falling in accordance with the currency signal. The price may rise to the $1.19 and $1.20 levels if buyers are able to overcome the $1.18 resistance. There may be a drop below the $1.16 and $1.15 support levels if sellers are successful in maintaining the price below the $1.17 level.

 

EURUSD medium-term Trend: Bearish

For the past two days, the EURUSD has been under bearish pressure; at $1.20, a bearish engulfing pattern appears; as the price approaches $1.20, it starts to decline; the negative reversal began when the upward pressure subsided and a double top pattern appeared; strong bearish candles appear.

When the price is below the Hull Suite indication, it falls from $1.20 to $1.17; additionally, the QQE MOD score is falling.

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