EURUSD Price Continues a Bullish Momentum

Bulls are returning to EURUSD market

EURUSD Price Analysis – 31 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

For the EURUSD, a medium-term bullish reversion was verified. The currency pair has been under bullish 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 point, it might have easily dropped to $1.02. When the price exceeded the Hull Suite signal, large bullish candles emerged. The total may theoretically increase from $1.02 to $1.10. The cost of each item is getting close to $1.09.

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

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