EURUSD Price May Retest $1.07 Resistance Level

Sellers’ momentum is increasing

EURUSD Price Analysis –29 July

If buyers are able to breach the resistance level at $1.08, they can advance to the $1.09 and $1.10 barrier levels. If sellers are successful in holding the price below the $1.07 barrier, prices may go below the $1.06 and $1.05 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.08, $1.09, $1.10

Support levels: $1.07, $1.06, $1.05

 EURUSD Long-term Trend: Bearish

It is anticipated that EURUSD will move bearishly. 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 had lost interest in the deal, therefore they were unable to increase their offer above the cap. The price dropped to $1.06 as sellers put more pressure on the market. Bears are presently pushing hard to break below $1.07 per share.

Below the forex signals recommendation, the Hull Suite demonstrates that the market is still not optimistic. If buyers are able to breach the resistance level at $1.08, they can advance to the $1.09 and $1.10 barrier levels. If sellers are successful in holding the price below the $1.07 barrier, prices may go below the $1.06 and $1.05 support levels.

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 emerges. As the price approached $1.08 and eventually over that threshold, it began to fall. The price has produced massive bearish candles ever since it crossed over the Hull Suite signal. The amount decreases to $1.09 from $1.07. The cost is decreases towards $1.07 level.

Right now, it costs less than Hull Suite. A lower QQE MOD score indicates a downward tendency.

Start using a world-class auto trading solution

You can purchase Lucky Block here.  Buy LBLOCK