EURUSD Price: Bullish Trend May Continue to $1.09 Resistance Level
Login

EURUSD Price: Bullish Trend May Continue to $1.09 Resistance Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Bulls are dominating EURUSD market

EURUSD Price Analysis – 13 March

EURUSD may increase to the $1.09 and $1.10 resistance levels if the Bulls are able to break above the $1.07 barrier level. The $1.04 and $1.03 levels may be reached if sellers apply more pressure, pushing the price past the $1.06 support level.

EUR/USD Market

Key Levels:

Resistance levels: $1.07, $1.09, $1.10

Support levels: $1.06, $1.04, $1.03

EURUSD Long-term Trend: Bullish

EURUSD is bullish on the Long-term outlook. The currency pair was under the control of sellers since three weeks ago. The bearish momentum commenced when the resistance level of $1.10 held. The bears gained more pressure and the price decreases. The former support level of $1.09 and $1.07 turned into resistance levels. The support level of $1.04 was tested. EUR gained more strength when USD lose strength at the Non-farm payroll news last Friday. EURUSD is currently increasing trying to break up the $1.07 resistance level.

Since the EURUSD market is currently trading above both the 9- and 21-period EMAs, buyers are progressively taking control of the market. Buyers are in charge of the market and are gaining momentum as the price of the EURUSD rises above the two EMAs. The price may increase to the $1.09 and $1.10 resistance levels if Bulls are able to break above the $1.07 barrier level. The $1.04 and $1.03 levels may be reached if sellers apply more pressure, pushing the price past the $1.06 support level.

EURUSD medium-term Trend: Bullish

EURUSD is bullish in the medium-term outlook. The currency pair was seeing strong seller momentum a few weeks ago. After hitting $1.10, a resistance level, the price began to decline. The $1.06 support level has turned to the resistance level. Right now, it appears that the bulls are entering the market again with more vigor. This week, buyers might dominate the market.

The price is now increasing and is currently breaking the $1.07 resistance level. The Relative Strength Index for period 14 is pointing up at 67 levels and is indicating a buy signal.  The 9 – period EMA has crossed above the 21-period exponential moving averages upside and EURUSD is trading above it, indicating a buy signal.

You can purchase crypto coins here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News