EURUSD Price Is Targeting $1.13 Resistance Level

Buyers’ momentum increases in EURUSD market

EURUSD Price Analysis – 17 July

The price may rise significantly more toward the $1.14 and $1.15 barrier levels if buyers are successful in breaking through the $1.13 resistance level. If the $1.13 resistance level is successfully held by sellers, the price may decline in the direction of the $1.11, $1.10, and $1.09 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.13, $1.14, $1.15

Support levels: $1.11, $1.10, $1.09

 EURUSD Long-term Trend: Bullish

EURUSD is bullish on the long-term outlook. The price movement has formed an upward channel on the daily chart. This pattern on the chart is an example of a bullish continuation pattern. Ever since the currency pair reached a support level at $1.04 on May 3, the bulls have been in control. Numerous bullish candles appeared when the price deviated from the forecasted level. At $1.09, the price overcame previous resistance levels. Currently, the price is rising near the $1.13 level.

The fact that the EURUSD is presently trading above the EMAs suggests that the bulls are making progress. The price may rise significantly more toward the $1.14 and $1.15 barrier levels if buyers are successful in breaking through the $1.13 resistance level. If the $1.13 resistance level is successfully held by sellers, the price may decline in the direction of the $1.11, $1.10, and $1.09 support levels.

EURUSD medium-term Trend: Bullish

EURUSD is bullish on the medium-term outlook. The past four weeks have seen an upsurge in the merchants’ enthusiasm. The EURUSD market is under the leadership of bulls. The price rises as a result of the bears failing to penetrate the $1.07 support level. The $1.10 level had a chance of moving up to the $1.11 level. Bulls successfully held the $1.09 support level, and the price is now moving upward.

The price position above the two moving averages indicates an upward trend. The Relative Strength Index period 14 signal lines are rising and showing a buy signal at levels 74

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