EURUSD Price Is Aimimg at $1.13, Previous Low Point

US Dollar fall for EURO

EURUSD Price Analysis – 03 November

If buyers can break through the resistance level at $1.15, they might be able to push the price up to the $1.16 and $1.17 barrier levels. Prices may go below the $1.13 and $1.12 support levels if sellers are able to keep the price below the $1.14 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.15, $1.16, $1.17

Support levels: $1.14, $1.13, $1.12

EURUSD Long-term Trend: Bearish

The massive bearish engulfing candle on the daily chart indicates that the downward trend began at $1.19. The price trend is being supported by the bears. When bears gained strength, the price started to decline. The $1.17 barrier was broken. The price is getting closer to the $1.16 barrier as the downward trend grew stronger. The level that had been established earlier was obviously the bottom of a downward trend. The sellers prevented proposals from exceeding their upper limit in order to seal the sale. As the price dropped and got closer to $1.15, more sellers entered the market. Bulls are currently defending the $1.15 barrier level. At the moment, it is making every effort to maintain the downward trend.

The market is falling in accordance with the forex signal’s suggestions, according to the Hull Suite. If buyers can break through the resistance level at $1.15, they might be able to push the price up to the $1.16 and $1.17 barrier levels. Prices may go below the $1.13 and $1.12 support levels if sellers are able to keep the price below the $1.14 barrier.

EURUSD medium-term Trend: Bearish

For the EURUSD, a medium-term bearish reversion was verified. The currency pair has been under bearish pressure for nearly two weeks. At $1.19, a bearish engulfing candle pattern is shown. As the price approached $1.16, it began to decline. Bearish reversion started when the double top chart pattern emerged and the rising impetus stopped. When the price is below the Hull Suite signal, large bearish candles show up. The price dropped to $1.15 from $1.19. The cost is $1.15 per item.

Right now, it costs less than the Hull Suite. A lower QQE MOD score indicates a falling slope.