EURUSD Price Is Retesting a Previous Low

Bears are intensify pressure

EURUSD Price Analysis – 06 October

Buyers may be able to raise the price to the $1.18 and $1.19 barrier levels if they can overcome the resistance level at $1.17. If sellers can hold the price below the $1.16 barrier, prices can drop below the $1.15 and $1.14 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.17, $1.18, 1.19

Support levels: $1.16, $1.15, $1.14

EURUSD Long-term Trend: Bearish

The daily chart’s big bearish engulfing candle shows that the falling trend started at $1.19. The bears are supporting the price trend. The price began to fall as bears gained strength. It broke the $1.18 barrier. As the downward trend gained momentum, the price is approaching the $1.16 barrier. The previously determined level was clearly the bottom of a downward trend. In order to close the deal, the sellers kept offers from falling below their lower limit. More sellers entered the market as the price decreased and approached $1.16. At the moment, bulls are defending the $1.16 barrier level. At the moment, it is making every effort to maintain the falling trend.

According to the recommendations of the forex signal, the market is declining, according to the Hull Suite. Buyers may be able to raise the price to the $1.18 and $1.19 barrier levels if they can overcome the resistance level at $1.17. If sellers can hold the price below the $1.16 barrier, prices can drop below the $1.15 and $1.14 support levels.

EURUSD medium-term Trend: Bearish

A medium-term bearish reversion was confirmed for the EURUSD. For almost two weeks, there has been negative pressure on the currency pair. A bearish engulfing candle pattern is displayed at $1.19. The price started to fall as it got closer to $1.16. When the double top chart pattern appeared and the upward momentum paused, bearish reversion began. Big bearish candles appeared when the price is below the Hull Suite signal. The cost decreased from $1.19 to $1.16. The cost is $1.16 per item.

It is currently less expensive than the Hull Suite. A decreasing slope is indicated by a lower QQE MOD score.

Start using a world-class auto trading solution

You can purchase Lucky Block here.  Buy LBLOCK