EURUSD Price is Obeying Bulls’ Command

Price may surpass $1.16 level

EURUSD Price Analysis – 01 December

If buyers can get past the resistance level of $1.16, they might be able to lift the price to the barrier levels of $1.17 and $1.18. Prices may go below the $1.14 and $1.13 support levels if sellers are able to maintain the price below the $1.15 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.16, $1.17, $1.18

Support levels: $1.15, $1.14, $1.13

EURUSD Long-term Trend: Bullish

The massive bullish engulfing candle on the daily chart indicates that the increase began at $1.14. The price trend is being supported by the bulls. As bulls grew stronger, the price started to incline. The $1.15 mark was exceeded. As the upward trend continues, the price is getting closer to the $1.16 barrier. The previously defined level was obviously the bottom of a downward trend. The buyers prevented offers from exceeding their lower limit in order to complete the transaction. When the price flipped and got close to $1.16, more stores joined the market. Bulls are now defending the $1.15 barrier level. At the moment, it is making every effort to maintain the upward trend.

According to the Hull Suite, the market is rising in accordance with the suggestions made by the forex signal. If buyers can get past the resistance level of $1.16, they might be able to lift the price to the barrier levels of $1.17 and $1.18. Prices may go below the $1.14 and $1.13 support levels if sellers are able to maintain the price below the $1.15 barrier.

EURUSD medium-term Trend: Bullish

For the EURUSD, a medium-term bullish reversion was verified. The currency pair has been under bearish pressure for nearly two weeks. At $1.14, a bullish engulfing candle pattern can be seen. As it approached $1.14, the price began to incline. A bullish reversion started when the downward impulse subsided and the double bottom chart pattern emerged. When the price is above the Hull Suite signal, large bullish candles show up. The price flipped from $1.14 to $1.156. The price per item is $1.16.

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