EURUSD Price Is Climbing Towards $1.10 Resistance Level

Bulls are exerting more pressure

EURUSD Price Analysis –12 August

If buyers are able to overcome the resistance level at $1.10, they can push the price higher to the $1.11 and $1.12 barrier levels. If sellers are successful in holding the price below the $1.09 barrier, prices may go below the $1.08 and $1.07 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.10, $1.11, $1.12

Support levels: $1.09, $1.08, $1.07

 EURUSD Long-term Trend: Bullish

EURUSD is predicted to move in an inclined manner. The currency pair picks up steam on April 17 and climbs into the $1.09 region. The bears had lost their strength. The price began to rise as bulls gained traction. Between $1.08 and $1.09, there was a break in the resistance area. It hit $1.09, its previous high. Because they were interested in the acquisition, the buyers were allowed to increase their offer above the ceiling. The price rose toward $1.10 as buyers put further pressure on the market. Bulls are working hard right now to break above $1.10 per share.

 

The Hull Suite demonstrates that the market is still positive relative to the recommendations for forex signals. If buyers are able to overcome the resistance level at $1.10, they can push the price higher to the $1.11 and $1.12 barrier levels. If sellers are successful in holding the price below the $1.09 barrier, prices may go below the $1.08 and $1.07 support levels.

EURUSD medium-term Trend: Bullish

A turnaround in the EURUSD is expected in the medium run. The currency pair has been under upward pressure for the last three weeks. At $1.08, a double bottom chart pattern emerges. As the price approached $1.09, it began to rise and eventually passed that threshold. The price has produced massive bullish candles ever since it crossed over the Hull Suite signal. The amount is increasing to $1.10 from $1.07. The cost per unit is getting close to $1.10.

 

 

Right now, it costs more than Hull Suite. A lower QQE MOD score indicates a tendency to slope.

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