EURUSD Price Is Targeting $1.19 Point

Buyers’ momentum increase daily

EURUSD Price Analysis – 29 December

Buyers could push the price higher to the $1.19 and $1.20 levels if they can overcome the $1.18 resistance. If sellers manage to keep the price below the $1.17 level, there could be a decline below the $1.16 and $1.15 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.18, $1.19, $1.20

Support levels: $1.17, $1.16, $1.15

 EURUSD Long-term Trend: Bullish

The daily chart displays a large bullish engulfing candle, showing that the price increase started at $1.14. The bulls are pushing the price higher and maintaining the upward trend. The price began to rise as the bullish momentum grew stronger. The $1.15 level was broken, and the price is now approaching the $1.18 resistance level as the bullish trend continues. It is clear that the previous level was the bottom of a bearish trend. To prevent the price from falling further, buyers set a lower limit. More traders entered the market as the price moved closer to $1.18. The bulls are now defending the $1.17 level, doing everything to keep the upward movement going.

The Hull Suite indicates that the market is rising in line with the forex signal. Buyers could push the price higher to the $1.19 and $1.20 levels if they can overcome the $1.18 resistance. If sellers manage to keep the price below the $1.17 level, there could be a decline below the $1.16 and $1.15 support levels.

 

EURUSD medium-term Trend: Bullish

A medium-term bullish reversal has been confirmed for the EURUSD. Over the past two weeks, the currency pair has been under bearish pressure. A bullish engulfing pattern appears at $1.14. The price started to rise as it approached $1.18. With the weakening of downward pressure and the emergence of a double bottom pattern, the bullish reversal began.

Strong bullish candles appear when the price is above the Hull Suite signal. The price increased from $1.14 to $1.18. The current price is higher than the Hull Suite signal. The QQE MOD score also suggests a rising trend.

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