Buyers are dominating EURUSD market
EURUSD Price Analysis – 10 July
In case buyers are successful in breaching the $1.10 resistance level, the price may increase far more toward the $1.11 and $1.12 barrier levels. If sellers are successful in holding the $1.10 resistance level, the price may reduce to the direction of the $1.08, $1.10, and $1.07 support levels.
EUR/USD Market
Key Levels:
Resistance levels: $1.10, $1.11, $1.12
Support levels: $1.09, $1.08, $1.07
EURUSD Long-term Trend: Bullish
EURUSD is bullish on the long-term outlook. On the daily chart, the price movement has created an ascending channel. This chart pattern represents a bullish continuation pattern. The bulls have been in power ever since the currency pair on May 3 reached a support level at $1.04. Numerous bullish candles appeared as the price moved away from the predicted level. EURUSD broke through previous resistance levels at $1.09. The price is currently moving northward toward the $1.10 level.
EURUSD is currently trading above the EMAs indicating that the bulls are gaining ground. If buyers successfully breach the $1.10 resistance level, the price may increase far more toward the $1.11 and $1.12 barrier levels. If sellers are successful in holding the $1.10 resistance level, the price may reduce to the direction of the $1.08, $1.10, and $1.07 support levels.
EURUSD medium-term Trend: Bullish
EURUSD is bullish on the medium-term outlook. The merchants’ enthusiasm has increased over the past four weeks. Bulls are in control of the EURUSD market. The bears’ failure to break through the $1.07 support level causes the price to rise. There was a chance that the $1.10 level could rise to the $1.11 level. The $1.09 support level was successfully held by bulls, and the price is now inclining.
The price position above the two moving averages indicates an upward trend. The Relative Strength Index period 14 signal lines are rising and showing a buy signal at levels 65
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