EURUSD Price May Reduce to $1.07 Before Bulls Take Over

Price retracement in EURUSD market

EURUSD Price Analysis – 18 March

The $1.09 and $1.10 barrier levels may be reached quickly by buyers if they can break above the $1.08 resistance level. EURUSD may drop to the support levels of $1.07 and $1.06 if sellers are successful in keeping the price below the $1.08 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.08, $1.09, $1.10

Support levels: $1.08, $1.07, $1.06

 EURUSD Long-term Trend: Bullish

A surge in EURUSD is anticipated. The currency pair lost momentum on December 28 and depreciated versus the $1.05 level. The bears had lost their strength. Price began to incline as bulls gathered momentum. The resistance zone between $1.06 and $1.07 was breached. It rise to its prior high of $1.08. The market buyers’ demand causes the price to increase above $1.08. Buyers have become more powerful in the market and raised their asking prices since two weeks ago. As of right now, the price has pulled back and is retesting the $1.09 level.

The Hull Suite, which is positioned below the currency pair, indicates that the market is rising. The $1.09 and $1.10 barrier levels may be reached quickly by buyers if they can break above the $1.08 resistance level. Prices may drop to the support levels of $1.07 and $1.06 if sellers are successful in keeping the price below the $1.08 barrier.

EURUSD medium-term Trend: Bearish

A turnaround in the EURUSD is expected in the medium run. The currency pair has been under bullish pressure for the last three weeks. At $1.09, a double top chart pattern forms. When the price broke down the support level at $1.09 and moved closer to the support level at $1.08, a bearish trend began. It has produced huge bearish candles ever since the price was reduced below the Hull Suite forex signals. The price is moving below the $1.08 mark.

Right now, it costs less than Hull Suite. A reduction of QQE MOD value indicates a greater probability of the bearish trend..

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