EURUSD Price Is Experiencing a Bullish Reversal Trend  

Bulls are intensifying pressure on EURUSD market

EURUSD Price Analysis – 27 January

Buyers may be able to raise EURUSD to the $1.06 and $1.07 barrier levels if they can overcome the resistance level at $1.05. If sellers can hold the price below the $1.03 barrier, prices can drop below the $1.02 and $1.00 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.05, $1.06, $1.07

Support levels: $1.03, $1.02, $1.00

 EURUSD Long-term Trend: Bullish

On the daily chart, a strong long-term bullish engulfing candle formation that indicates a bullish reversal trend appears at the $1.02 level. The bulls opposed the continuation of the price decrease. The price began to rise as bulls grew more powerful. A breach occurred in the $1.02–$1.03 resistance area. Prior to a steep incline, it tested the most recent $1.02 support level. Because they are eager to complete the transaction, the buyers prevent the bids from exceeding their offer limit. As more buyers enter the market, the price is inclining and is getting close to $1.05. Right now, it is making a lot of effort to surpass the hurdle level that was just mentioned.

The Hull Suite suggests that the market is heading higher in accordance with the forex signal’s suggestions. Buyers may be able to raise the price to the $1.06 and $1.07 barrier levels if they can overcome the resistance level at $1.05. If sellers can hold the price below the $1.03 barrier, prices can drop below the $1.02 and $1.00 support levels.

EURUSD medium-term Trend: Bullish

A medium-term bullish reversion was verified for the EURUSD. For almost two weeks, there has been bullish pressure on the currency pair. A double bottom chart pattern is visible at $1.02. The price started to incline as it got closer to $1.03 and eventually dropped above it; it might have easily reached $1.05 at that point. Big bullish candles appeared when the price surpassed the Hull Suite signal. Theoretically, the sum may increase from $1.02 to $1.06. The price per unit is approaching $1.05.

It is currently more expensive than the Hull Suite. An inclining slope is indicated by a higher QQE MOD score.

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