EURUSD Price Bulls May Dominate Temporarily

Bullish pullback in EURUSD market

EURUSD Price Analysis – 25 March

If buyers can break above the $1.08 resistance level, they might be able to soon approach the $1.09 and $1.10 barrier levels. If sellers manage to hold the price below the $1.07 barrier, prices can fall to the support levels of $1.06 and $1.05 levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.08, $1.09, $1.10

Support levels: $1.07, $1.06, $1.05

EURUSD Long-term Trend: Bearish

It is expected that EURUSD will fall. On December 28, the currency pair lost steam and declined in relation to the $1.05 mark. The bears were no longer as strong. The price started to rise as bulls gained traction. There was a break in the resistance area between $1.06 and $1.07. It reached its previous peak of $1.08. The price rises above $1.08 due to the demand from market purchasers. Since two weeks ago, Sellers have increased their asking prices and gained more clout in the market. The price is currently retreating and retesting the $1.07 mark.

The market is decreasing, according to the Hull Suite, which is positioned above the currency pair. If buyers can break above the $1.08 resistance level, they might be able to soon approach the $1.09 and $1.10 barrier levels. If sellers manage to hold the price below the $1.07 barrier, prices can fall to the support levels of $1.06 and $1.05 levels.

EURUSD medium-term Trend: Bearish

In the medium term, a turnaround in the EURUSD is anticipated. For the past three weeks, there has been negative pressure on the currency pair. A double top chart pattern appears at $1.09. A negative trend started when the price broke through the support level at $1.09 and approached the support level at $1.08. Ever since the price dropped below the Hull Suite forex signals, it has produced enormous bearish candles. The price is declining from $1.08 to below.

It is currently less expensive than Hull Suite. A lower QQE MOD score suggests a higher likelihood of a bearish trend.

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