EURUSD Price May Be Pushed Above $1.07 Level

Bulls’ momentum may increase

EURUSD Price Analysis – 13 November

If sellers can breach the $1.06 support level, the price can fall sharply toward the $1.04 and $1.03 barrier levels. If buyers can keep the price above the $1.07 barrier level, the price may advance in the direction of the resistance levels of $1.08 and $1.09.

EUR/USD Market

Key Levels:

Resistance levels: $1.07, $1.08, $1.09

Support levels: $1.06, $1.04, $1.03

EURUSD Long-term Trend: Bullish

The long-term outlook for the EURUSD is dire. On the EURUSD market, there was a variety of activity as buyers and sellers try to halt additional drops. The currency pair attempted to test the $1.04 support level on September 27. Last week, it rebounded and hit $1.06 once more. The bulls lost their strength. The non-farm payroll news from last week could not sustain the bearish trend as long as bears kept up their pressure. It costs more than $1.06 presently. There is currently a bullish price turnaround that is moving the price closer to $1.07 level.

The 21- and 9-period exponential moving averages of the currency pair are presently being traded above. A sign that the bulls are getting stronger. The EURUSD is above both EMAs. If sellers can breach the $1.06 support level, the price can fall sharply toward the $1.04 and $1.03 barrier levels. If buyers can keep the price above the $1.07 barrier level, the price may advance in the direction of the resistance levels of $1.08 and $1.09.

EURUSD medium-term Trend: Bullish

The outlook for the EURUSD is positive in the medium term. The currency pair has been under bearish pressure for nearly three weeks. As soon as the $1.04 support level was broken, the purchase accelerated. As the price rises above $1.06, it has been steadily building huge bullish candles.  Prices might soon start to climb above $1.07 once more.

The price position above the 9- and 21-period moving averages suggests an upward trend. At level 55, the Relative Strength Index’s period 14 signal lines are inclining, indicating a buy signal.

You can purchase Lucky Block here.  Buy LBLOCK