EURUSD Price Commences a Bullish Movement, ready to Break Up $1.02 Level

Updated:

EURUSD Price Analysis – July 25

Ability to break up $1.02 resistance level by the bulls may increase the price to resistance levels at $1.04 and $1.06. Should the Bears penetrate the support level of $1.01 and daily candle closes below it, then, the price may embark on bearish trend towards the $1.00 and $0.99 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.02, $1.04, $1.06

Support levels: $1.01, $1.00, $0.99

EURUSD Long-term Trend: Bullish

On the long term outlook, EURUSD is bullish. Two weeks ago, the price decline to the low of support level at $0.99. A bullish engulfing candle formed at the mentioned level, this indicate that bulls are dominating the EURUSD market. The former resistance levels of $1.00 and $1.01 have turn to support levels. Further price increase envisaged.

EURUSD has penetrate the 9 period EMA upside, but trying to break up the 21 periods EMA which indicate an increase in the bulls’ momentum. Ability to break up $1.02 resistance level by the bulls may increase the price to resistance levels at $1.04 and $1.06. Should the Bears penetrate the support level of $1.01 and daily candle closes below it, then, the price may embark on bearish trend towards the $1.00 and $0.99 support levels.

EURUSD medium-term Trend: Bullish

EURUSD is bullish on the medium-term outlook. The price action is trying to form an inverted head and shoulder chart pattern. The bulls are gathering momentum to dominate EURUSD market fully. The price started increasing last week and the support levels of $1.01 and $1.02 are broken upside. The price is currently ranging within $1.02 and $1.01 levels.

The fast moving EMA is slowly crossing the slow moving EMA upside. The price is trading above the fast and slow moving EMAs. The Relative Strength Index period 14 is at 57 levels with the signal lines pointing up to indicate a buy signal.

You can purchase Lucky Block here.  Buy LBLOCK:

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.