EURUSD Price May Break Up $1.10 Resistance Level

Buyers’ momentum is increasing

EURUSD Price Analysis –05 August

Buyers can move up price to the $1.11 and $1.12 barrier levels if they can break over the resistance level at $1.10. Prices may drop below the $1.08 and $1.07 support levels if sellers are successful in keeping the price below the $1.09 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.10, $1.11, $1.12

Support levels: $1.09, $1.08, $1.07

 EURUSD Long-term Trend: Bullish

It is expected that the EURUSD will move in an inclining direction. On April 17, the currency pair gains momentum and moves higher into the $1.09 range. The bears were no longer as strong. Bulls gained momentum, and the price started to increase. There was a breach in the resistance area between $1.08 and $1.09. It reached its previous high of $1.09. The purchasers were able to raise their offer above the cap since they were interested in the acquisition. When buyers increased their pressure on the market, the price increases towards $1.10. Right now, bulls are making a lot of effort to breach above $1.10 per share.

The Hull Suite shows that the market is still optimistic above the forex signals guidance. Buyers can move up price to the $1.11 and $1.12 barrier levels if they can break over the resistance level at $1.10. Prices may drop below the $1.08 and $1.07 support levels if sellers are successful in keeping the price below the $1.09 barrier.

EURUSD medium-term Trend: Bullish

In the medium term, a turnaround in the EURUSD is anticipated. For the past three weeks, there has been positive pressure on the currency pair. A double bottom chart pattern appears at $1.08. The price started to incline as it got closer to $1.09 and eventually crossed that mark. Ever since the price passed over the Hull Suite forex signal, it has produced enormous bullish candles. The sum is rising from $1.07 to $1.10. The price is moving near $1.10 per unit.
It is currently more expensive than Hull Suite. An inclining tendency is shown by a decreased QQE MOD score.

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