EURUSD Price: Bullish Reversal Chart Pattern at $1.02

Buyer may dominate EURUSD market

EURUSD Price Analysis – 17 February

If buyers can break through the resistance level at $1.05, they might be able to push the price up to the $1.06 and $1.07 barrier levels. Prices may fall below the $1.02 and $1.01 support levels if sellers are able to keep the price below the $1.03 barrier

EUR/USD Market

Key Levels:

Resistance levels: $1.05, $1.06, $1.07

Support levels: $1.03, $1.02, $1.01

 EURUSD Long-term Trend: Bullish

The daily chart’s display a powerful double bottom chart pattern formation which suggests that the bullish trend will probably commence at the $1.02 level. The price’s downward trend was resisted by the bulls. As bearulls became more powerful, the price started to increase. The barrier level between $1.03 and $1.05 was breached. It tested the most recent $1.05 resistance level before a pullback. The sellers keep offers from going over their offer limit since they are want to close the purchase. The price is increasing and approaching $1.05 as more buyers enter the market. It is now working hard to go above the obstacle level that was previously set.

According to the recommendations of the forex signal, the Hull Suite indicates that the market is moving higher. If buyers can break through the resistance level at $1.05, they might be able to push the price up to the $1.06 and $1.07 barrier levels. Prices may fall below the $1.02 and $1.01 support levels if sellers are able to keep the price below the $1.03 barrier.

EURUSD medium-term Trend: Bullish

For the EURUSD, a medium-term bullish reversion was confirmed. The currency pair has been under bearish pressure for nearly two weeks. At $1.02., a double bottom chart pattern is seen. As it approached $1.02, the price began to increase; by that time, it might have easily hit $1.02. When the price exceeded the Hull Suite signal, large bullish candles emerged. The total might theoretically increase from $1.02 to $1.05. The cost per unit is getting close to $1.05.

Right now, it costs more than the Hull Suite. A higher QQE MOD score indicates an inclining slope.

Start using a world-class auto trading solution

You can purchase Lucky Block here.  Buy LBLOCK