EURUSD Price:  There Could Be a Pullback at $1.103 Level

Bulls’ pressure is increasing

EURUSD Price Analysis – 02 September

Buyers have the ability to drive the price higher to the $1.120 and $1.127 barrier levels if they can break through the resistance level at $1.111. Prices may drop below the $1.100 and $1.091 support levels if sellers are successful in keeping the price below the $1.103 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.111, $1.120, $1.127

Support levels: $1.103, $1.100, $1.091

 EURUSD Long-term Trend: Bullish

An spike in the EURUSD is anticipated. On August 02, the currency pair gains momentum and moves higher into the $1.120 range. The bears were no longer as strong. Bulls gained momentum, and the price started to increase. The $1.111–$1.103 resistance range was breached. It reached its previous peak of $1.120. The purchasers were permitted to raise their offer above the ceiling because they were interested in the deal. As more sellers entered the market, the price decreased to roughly $1.103. Currently, bulls are putting in a lot of effort to bounce above $1.103 per share.

When compared to the forex signal recommendations, the Hull Suite shows that the market is still doing well. Buyers have the ability to drive the price higher to the $1.120 and $1.127 barrier levels if they can break through the resistance level at $1.111. Prices may drop below the $1.100 and $1.091 support levels if sellers are successful in keeping the price below the $1.103 barrier.

EURUSD medium-term Trend: Bearish

In the medium term, a bearish turnaround in the EURUSD is shown. For the past three weeks, there has been upward pressure on the currency pair. A double bottom chart pattern appears at $1.08. The price started to grow as it got closer to $1.120. The price could not break up the mentioned level. Since crossing below the Hull Suite signal, the price has generated enormous bearish candles. The sum is falling from $1.120 to $1.103 levels. The price per unit is approaching $1.103.

It is currently less expensive than Hull Suite. A declined slope is indicated by a lower QQE MOD score.

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