EURUSD Price Tests $1.12 Resistance Level Twice  

Bulls’ momentum is reducing

EURUSD Price Analysis –30 September

If buyers can break past the resistance level at $1.12, they might be able to push EURUSD higher to the $1.13 and $1.14 barrier levels. If sellers are successful in holding the price below the $1.11 barrier, prices may go below the $1.10 and $1.09 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.12, $1.13, $1.14

Support levels: $1.11, $1.10, $1.09

 EURUSD Long-term Trend: Bullish

It is expected that the upward direction of the EURUSD may be altered. 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 range of $1.09–$1.10 was crossed. It hit $1.12, its previous high. Because they were eager to close the deal, the sellers prohibited the buyers from increasing their offer above the ceiling. The price dropped to about $1.11 as more sellers entered the market. Bears are working hard right now to break below $1.11 per share.

The Hull Suite indicates that, in light of the forex signal’s suggestions, the market is positive. If buyers can break past the resistance level at $1.12, they might be able to push the price higher to the $1.13 and $1.14 barrier levels. If sellers are successful in holding the price below the $1.11 barrier, prices may go below the $1.10 and $1.09 support levels.

EURUSD medium-term Trend: Bullish

A bearish reversal in the EURUSD is expected in the medium term. The currency pair has been under upward pressure for the last three weeks. At $1.08, a double bottom chart pattern emerges. The price began to rise as it approached $1.09 and eventually passed it; however, it was unable to surpass $1.12 at that point. After the price crossed below the Hull Suite signal, it generated huge bearish candles. The total drops to $1.11 from $1.12. The unit cost is getting close to $1.11.

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

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