EURUSD Price Under Bears’ Pressure

EURO is stronger than USD

EURUSD Price Analysis – 24 November

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 may drop 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: Bearish

The daily chart’s enormous bearish engulfing candle shows that the decline started at $1.19. The bears are supporting the price trend. The price began to drop as bears strengthened. The $1.17 threshold was surpassed. The price is approaching the $1.15 barrier as the downward trend continues. Clearly, the previously established level was the bottom of a negative trend. To close the purchase, the sellers stopped offers from going over their upper limit. More retailers entered the market when the price decreased and approached $1.15. The $1.15 barrier level is currently being defended by bulls. It is currently doing everything it can to keep the trend downward.

The Hull Suite claims that the market is declining 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 may drop below the $1.14 and $1.13 support levels.

EURUSD medium-term Trend: Bearish

A medium-term bearish reversion was confirmed for the EURUSD. For almost two weeks, there has been bearish pressure on the currency pair. A bearish engulfing candle pattern is visible at $1.19. The price started to drop as it got closer to $1.16. When the rising impetus ended and the double top chart pattern appeared, a bearish reversion began. Large bearish candles appear when the price is below the Hull Suite signal. The cost decreased to $1.15 from $1.19. Each item costs $1.15.

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

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