EURUSD Price Bounces Up at $1.14 Point

Price will go higher

EURUSD Price Analysis – 04 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 $1.15 barrier, prices can drop below the $1.16 and $1.17 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.15, $1.16, 1.17

Support levels: $1.14, $1.13, $1.12

 EURUSD Long-term Trend: Bullish

The bullish trend started at the $1.14 level, as demonstrated by the daily chart’s powerful bullish engulfing candle. The bulls oppose the price fall. The price began to rise as bulls gained strength. It broke the $1.12 barrier. As the bullish trend gains momentum, the price is approaching the $1.14 barrier. Clearly, a trend in the right direction has started. To ensure the sale, the purchasers prevent offers from exceeding their offer limit. More buyers entered the market as the price rose and approached $1.15. At the moment, bulls are protecting the $1.15 resistance level. At the moment, it is making a lot of effort to spot a break up $1..

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 $1.15 barrier, prices can drop below the $1.16 and $1.17 support levels.

 

EURUSD medium-term Trend: Bearish

A medium-term bearish reversion was confirmed for the EURUSD. For almost two weeks, there has been positive pressure on the currency pair. A double bottom chart pattern is observed at $1.10. The price started to rise as it got closer to $1.14. When the double bottom chart pattern appeared and the negative momentum weakened, bullish reversion began. Big bullish candles appeared when the price surpassed the Hull Suite signal. The sum went up to $1.17 from $1.10. The price per item is $1.17.

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

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