EURUSD Price May Surpass $1.16 Level

Bulls are ruling EURUSD market

Price may surpass $1.16 level

EURUSD Price Analysis – 08 December

Buyers may be able to raise the price to the barrier levels of $1.17 and $1.18 if they can overcome the resistance level of $1.16. If sellers can keep the price below the $1.15 barrier, prices might go 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: Bullish

The daily chart’s enormous bullish engulfing candle shows that the rise started at $1.14. The bulls are supporting the price trend. The price began to rise as bulls became more powerful. The $1.15 threshold was surpassed. The price is approaching the $1.16 barrier as the rising trend continues. Clearly, the previously established level was the bottom of a negative trend. To close the deal, the purchasers stopped offers from going over their lower limit. More retailers entered the market when the price changed and approached $1.16. The $1.15 barrier level is now being defended by bulls. It is currently doing everything it can to keep the upward trend.

The Hull Suite claims that the market is rising in line with the forex signal’s recommendations. Buyers may be able to raise the price to the barrier levels of $1.17 and $1.18 if they can overcome the resistance level of $1.16. If sellers can keep the price below the $1.15 barrier, prices might go below the $1.14 and $1.13 support levels.

 

EURUSD medium-term Trend: Bullish

A medium-term bullish reversion was confirmed for the EURUSD. For almost two weeks, there has been bearish pressure on the currency pair. A bullish engulfing candle pattern is shown at $1.14. The price started to rise as it got closer to $1.14. When the downward impetus faded and the double bottom chart pattern appeared, a bullish reversal began. Large bullish candles appear when the price is above the Hull Suite signal. The price changed from $1.14 to $1.156. Each item costs $1.16.

It is currently more expensive than the Hull Suite. An increasing slope is indicated by a greater QQE MOD score.

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