EURUSD Price Is Struggling to Break Up $1.14 Line

Bulls’ momentum increases

EURUSD Price Analysis – 26 May

Buyers may be able to raise the price to the $1.16 and $1.17 barrier levels if they can overcome the resistance level at $1.14. If sellers can hold the price below the $1.12 barrier, prices can drop below the $1.10 and $1.07 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.14, $1.16, 1.17

Support levels: $1.12, $1.10, $1.07

 EURUSD Long-term Trend: Bullish

The bearish trend tested the $1.10 line, according to the daily chart’s powerful double bottom pattern formation. The bulls resist the price’s declination. The price began to rise as bulls gained strength. It broke the $1.12 barrier. As the bullish trend intensifies, the price is approaching the $1.14 barrier. Clearly, a favorable trend has started. To ensure the deal, the purchasers prevent offers from exceeding their offer limit. More buyers are joining the market, and the price is rising and approaching $1.14. It is now making a lot of effort to get past the previously established barrier level.

The market is inclining in accordance with the forex signal’s suggestions, according to the Hull Suite. Buyers may be able to raise the price to the $1.16 and $1.17 barrier levels if they can overcome the resistance level at $1.14. If sellers can hold the price below the $1.12 barrier, prices can drop below the $1.10 and $1.07 support levels.

EURUSD medium-term Trend: Bullish

A medium-term bullish reversion was confirmed for the EURUSD. For almost two weeks, there has been bearish pressure on the currency pair. A double bottom chart pattern is observed at $1.10. The price started to rise as it got closer to $1.14. When the double bottom chart pattern formed and the negative momentum waned, bullish reversion began. Big bullish candles appeared when the price surpassed the Hull Suite signal. Theoretically, the sum may rise from $1.10 to $1.14. Each item’s price is approaching $1.14.

It is currently more expensive than the Hull Suite. A increasing slope is indicated by a greater QQE MOD score.

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