EURUSD Price: Bullish Trend May Continue After a Pullback

EURUSD Price Analysis – 24 March

Buyers may be able to raise the price to the $1.10 and $1.11 barrier levels if they can overcome the resistance level at $1.09. If sellers can hold the price below the $1.07 barrier, prices can drop below the $1.05 and $1.04 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.09, $1.010, $1.11

Support levels: $1.07, $1.05, $1.04

 EURUSD Long-term Trend: Bullish

The bullish trend began near the $1.02 line, according to the daily chart’s powerful double bottom pattern formation. The bulls fought the downward trend of the price. The price began to rise as bulls gained strength. The threshold was breached between $1.04 and $1.05. Before rising, it tested the most recent $1.03 support level. In order to seal the deal, the purchasers prevent offers from exceeding their offer limit. With more purchasers entering the market, the price is rising and getting closer to $1.09. It is currently making a lot of effort to get past the previously established barrier level.

According to the Hull Suite, the market is rising in accordance with the forex signal’s suggestions. Buyers may be able to raise the price to the $1.10 and $1.11 barrier levels if they can overcome the resistance level at $1.09. If sellers can hold the price below the $1.07 barrier, prices can drop below the $1.05 and $1.04 support levels.

.EURUSD medium-term Trend: Bullish

A medium-term bullish 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 $1.02. The price started to rise as it got closer to $1.02; it might have easily fallen to $1.02 by then. Big bullish candles appeared when the price surpassed the Hull Suite signal. Theoretically, the sum may rise from $1.02 to $1.10. Each item’s price is approaching $1.09.

It is currently more expensive than the Hull Suite. An inclining slope is indicated by a higher QQE MOD score.

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