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EURUSD testes $1.09 resistance level
EURUSD Price Analysis – 13 May
Buyers may be able to break through the resistance level at $1.08 and eventually reach the $1.09 and $1.10 barrier levels. Prices may drop below the $1.06 and $1.05 support levels if sellers are successful in keeping the price below the $1.07 barrier.
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: 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 bears had lost their strength. The price began to rise as bulls gained traction. Between $1.06 and $1.07, there was a break in the resistance area. It hit $1.08, its previous high. Both the previously mentioned level and price drops below $1.06 were met with resistance from sellers. Buyers have more clout in the market and have raised their asking prices since two weeks ago. The price is currently increasing and testing the $1.08 mark.
A bull market trend is indicated by the Hull Suite, which is below the currency pair. Buyers may be able to break through the resistance level at $1.08 and eventually reach the $1.09 and $1.10 barrier levels. Prices may drop below the $1.06 and $1.05 support levels if sellers are successful in keeping the price below the $1.07 barrier. You can join best forex signals telegram.
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 then exceeded the $1.07 threshold, a rising trend began. The price has produced massive bullish candles ever since it crossed over the Hull Suite signal. At this time, the price increases from $1.06 to $1.08.
Right now, it costs more than Hull Suite. A higher QQE MOD score indicates a stronger bullish trend.
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