EURUSD Price: Bears Are Dominating Market

EURUSD may decline further

EURUSD Price Analysis – 01 April

Buyers may be able to get close to the $1.09 and $1.10 barrier levels shortly if they can break above the resistance level of $1.08. Prices may drop below the support levels of $1.06 and $1.05 if sellers are successful in keeping the price below the $1.07 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.08, $1.09, $1.10

Support levels: $1.07, $1.06, $1.05

 EURUSD Long-term Trend: Bearish

It’s anticipated that EURUSD will decline further. The currency pair lost traction and moved lower into the $1.05 mark on December 28. The bears had lost their strength. As bulls gained traction, the price began to increase. The resistance zone between $1.06 and $1.07 was broken. It hit $1.08, its previous high. The demand from market buyers causes the price to soar above $1.08. Sellers have acquired greater clout in the market and raised their asking prices since two weeks ago. Right now, the price is dropping and testing the $1.07 threshold again.

The Hull Suite, which is placed over the currency pair, indicates that the market is declining. Buyers may be able to get close to the $1.09 and $1.10 barrier levels shortly if they can break above the resistance level of $1.08. EURUSD may drop below the support levels of $1.06 and $1.05 if sellers are successful in keeping the price below the $1.07 barrier.

EURUSD medium-term Trend: Bearish

A turnaround in the EURUSD is expected in the medium run. The currency pair has been under bearish pressure for the last three weeks. At $1.09, a double top chart pattern emerges. When the price approached the support level at $1.08 and broke through the support level at $1.09, a negative trend began. The price has produced massive bearish candles ever since it fell below the Hull Suite signal. The cost is going down from $1.08 to less.

Right now, it costs less than Hull Suite , forex signals. The probability of a bearish trend is higher when the QQE MOD score is lower.

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