EURUSD Price Bounces Off Resistance Level of $1.07  

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Low bullish momentum in EURUSD market

EURUSD Price Analysis – 19 December

The price may break up the resistance levels of $1.06 in which it may extend to the $1.07 and $1.08 resistance levels. A failure to break up $1.06 resistance level by the Bulls may reduce EURUSD to $1.04, $1.03, and $1.02 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.06, $1.07, $1.08

Support levels: $1.04, $1.03, $1.02

EURUSD Long-term Trend: Bullish

On the long-term outlook, EURUSD is bullish. The double bottom chart pattern formed at the support level of $0.96 a few weeks ago, it energizes the bulls to propel the price higher to the resistance level of $1.07. The bullish momentum turned former resistance levels of $1.02, $1.03, and $1.04 to support levels after a broken upside. The resistance level of $1.07 was tested on 15 December and it is currently pulling back.

The price is trading above the 9-periods and 21-periods EMA as an indication that buyers are in control of the market and also, Buyers are maintaining their momentum in the EURUSD market. The price may break up the resistance levels of $1.06 which it may extend to $1.07 and $1.08 resistance levels. A failure to break up $1.06 resistance level by the Bulls may reduce the price to $1.04, $1.03, and $1.02 support levels.

EURUSD medium-term Trend: Bullish

EURUSD is bullish in the medium-term outlook. Last week, it seems there was a low bullish and bearish momentum in the EURUSD market. The currency pair was trading slowly toward the resistance level of $1.06. More pressure from the bulls broke up the just-mentioned level and the resistance level of $1.07 was tested. The price bounced off from the resistance level of $1.07 and it is currently consolidating at $1.06 level.

The price is trading around the 9-periods EMA and 21-periods EMA, the two EMAs are interlocked to each other. Relative Strength Index period 14 is pointing down at 49 levels to indicate sell signal.

You can purchase crypto coins 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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 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.