EURUSD Price May Continue a Bullish Trend

Buyers’ momentum may increase

EURUSD Price Analysis – 29 April

Buyers may be able to hit the $1.08 and $1.09 barrier levels shortly if they can break through the resistance level at $1.07. Prices may drop below the $1.05 and $1.04 support levels if sellers are successful in keeping the price below the $1.06 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.07, $1.08, $1.09

Support levels: $1.06, $1.05, $1.04

 EURUSD Long-term Trend: Bullish

It is anticipated that the EURUSD will keep rising. The currency pair lost ground on December 28 and fell into the $1.05 region. The bulls had lost their strength. The price began to rise as bulls gained traction. The resistance zone between $1.06 and $1.07 was broken. It hit $1.08, its previous high. Sellers defended any price drops below $1.06 as well as the previously mentioned level. Sellers have acquired greater clout in the market and raised their asking prices since two weeks ago. The price is currently bouncing up and getting closer to $1.07 at this point.

A bull market trend is indicated by the Hull Suite forex signals, which is situated below the currency pair. Buyers may be able to hit the $1.08 and $1.09 barrier levels shortly if they can break through the resistance level at $1.07. Prices may drop below the $1.05 and $1.04 support levels if sellers are successful in keeping the price below the $1.06 barrier.

EURUSD medium-term Trend: Bullish

A turnaround in the EURUSD is expected in the medium run. The currency pair has been under bearish pressure for the last three weeks. At $1.06, a double bottom chart pattern emerges. As the price approached and ultimately passed the $1.07 resistance level, a positive trend began. The price has produced massive bullish candles ever since it move above the Hull Suite signal. At this figure, the price increases from $1.06 to $1.07.

Right now, it costs more than Hull Suite. A higher QQE MOD score indicates a more bullish trend.

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