EURUSD Price May Reduce to $1.13 Level

EURO continuously falling for USD

EURUSD Price Analysis – 20 October

Buyers may be able to raise the price to the $1.167 and $1.18 barrier levels if they can overcome the resistance level at $1.16. If sellers can hold the price below the $1.15 barrier, prices can drop below the $1.14 and $1.13 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.16, $1.17, $1.18

Support levels: $1.15, $1.14, $1.13

 EURUSD Long-term Trend: Bearish

The daily chart’s huge bearish engulfing candle shows that the downward trend started at $1.19. The bears are supporting the price trend. The price began to drop when bears became more powerful. It broke the $1.17 barrier. As the negative trend intensified, the price is approaching the $1.16 barrier. It was clear that the level that had been set earlier was the bottom of a downward trend. The sellers prevented proposals from increasing above their higher limit in order to seal the deal. More sellers entered the market as the price fell and approached $1.15. Bears are currently protecting the $1.15 barrier level. At the moment, it is making every effort to maintain the falling trend.

cording to the Hull Suite, the market is declining in line with the recommendations of the forex signal. Buyers may be able to raise the price to the $1.167 and $1.18 barrier levels if they can overcome the resistance level at $1.16. If sellers can hold the price below the $1.15 barrier, prices can drop below the $1.14 and $1.13 support levels.

EURUSD medium-term Trend: Bearish

A medium-term bearish reversion was confirmed for the EURUSD. For almost two weeks, there has been bearish pressure on the currency pair. A bearish engulfing candle pattern is displayed at $1.19. The price started to drop as it got closer to $1.16. When the double top chart pattern appeared and the upward momentum ceased, bearish reversion began. Big bearish candles appear when the price is below the Hull Suite signal. The cost decreased from $1.19 to $1.15. The price per item is $1.15.

It is currently less expensive than the Hull Suite. A declining slope is indicated by a lower QQE MOD score.

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