EURUSD Price May Rebound at $1.06 Level

Bulls are trying to take over EURUSD market

EURUSD Price Analysis – 24 June

Buyers can move up to the $1.08 and $1.09 barrier levels if they can break over the $1.07 resistance level. 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: Bearish

It is anticipated that the EURUSD would decline. The currency pair picks up steam on April 17 and climbs into the $1.09 region. The bears had lost their strength. The price began to rise as bulls gained traction. The resistance zone between $1.08 and $1.09 was broken. It hit $1.09, its previous high. The buyers lost interest and were unable to rise above the previously stated threshold. The price dropped to $1.06 as sellers put more pressure on the market. The price is currently bouncing up at $1.06 level.

The Hull Suite shows that there is still bearishness in the market below the forex signals indication. Buyers can move up to the $1.08 and $1.09 barrier levels if they can break over the $1.07 resistance level. 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: Bearish

A turnaround in the EURUSD is expected in the medium run. Negative pressure has been applied to the currency pair for the last two weeks. At $1.08, a double top chart pattern emerges. As it approached and then passed $1.07, the price began to decline. EURUSD has produced massive bearish candles ever since it crossed over the Hull Suite signal. At this point, the price decreases from $1.08 to $1.07.

Right now, it costs more than Hull Suite. A lower QQE MOD score indicates a stronger negative trend.

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