EURUSD Price: Sellers’ Pressure Increases on $1.081 Level

EURUSD may be reduced further

EURUSD Price Analysis – 22 January

EURUSD may drop precipitously toward the $1.073 and $1.066 barrier levels if sellers successfully break through the $1.081 support level. Prices may move into the resistance levels of $1.101 and $1.108 if buyers can keep the price above the $1.088 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.088, $1.101, $1.108

Support levels: $1.081, $1.073, $1.066

EURUSD Long-term Trend: Bearish

EURUSD outlook is not good. The currency pair hit the $1.088 support level on December 11 after breaking through the $1.10 support level. The bulls had lost their strength. As bears gained traction, the price began to decline. A boundary infraction occurred between $1.088 and $1.101. It hit its previous high of $1.101. The market’s buyer demand pushes the price through the $1.11 threshold. Sellers have controlled the market for the last three weeks, bringing down prices. Right now, the cost is going down.

 

Above the currency pair, the Hull Suite indicates that the market is going negatively. The price may drop precipitously toward the $1.073 and $1.066 barrier levels if sellers successfully break through the $1.081 support level. Prices may move into the resistance levels of $1.101 and $1.108 if buyers can keep the price above the $1.088 barrier.

EURUSD medium-term Trend: Bearish

EURUSD is expected to drop in the medium run. The currency pair came under bearish pressure last three weeks. When the price hit the resistance level at $1.101, a selling frenzy broke out. The price has produced huge bearish candles ever since it fell below the Hull Suite signal.

Right now, the price is less than $1.088. The value of the QQE MOD indicator is smaller than zero, indicating a propensity toward decline.

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