EURUSD Price May Break Up $1.07 Resistance Level

Updated:

EURUSD Price Analysis – May 30

In case the Bulls break up the resistance level of $1.07, the price may increase to test the resistance level of $1.08 which may extend to $1.09 level. Should the bears break down the support level of $1.06, the price may reach $1.04 and $1.02.

EUR/USD Market

Key Levels:

Resistance levels: $1.07, $1.08, $1.09

Support levels: $1.06, $1.04, $1.02

EURUSD Long-term Trend: Bullish

EURUSD is bullish on the long term outlook. Buyers dominate the EURUSD market when the price dropped to the low of $1.02 support level. An inside bar candle pattern formed which triggers bullish movement. The price is increasing to break up the resistance level of $1.07. The former support levels of $1.08 and $1.07 have turned to resistance levels.

EURUSD is trading above the 9 periods EMA and the 21 periods EMA. The two EMAs were penetrated upside by the bulls’ pressure. In case the Bulls break up the resistance level of $1.07, the price may increase to test the resistance level of $1.08 which may extend to $1.09 level. Should the bears break down the support level of $1.06, the price may reach $1.04 and $1.02. The Relative Strength Index period 14 is at 58 levels with the signal line pointing up to indicate a buy signal.

 

EURUSD medium-term Trend: Bullish

EURUSD is bullish in the medium-term outlook. The sellers’ momentum could not break down the support level of $1.02 on 12 May. The currency pair breaks the former resistance level of $1.04 and $1.06 levels. The price is struggling to break up the resistance level of $1.07 at the moment. The price may expose to the resistant level of $1.09.

The price is trading above the 9 periods EMA and 21 periods EMA, the two EMAs are separated from each other as a sign of bullish trend. Meanwhile, the Relative Strength Index period 14 is at 66 levels with the signal line pointing up which indicate a buy signal.

Cryptovibes: EURUSD Price Is Breaking Up $1.18 Price Level, $1.19 Level May Be Reached

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.