EURUSD Price Under Bullish Pressure

EURUSD may break up $1.08 resistance level

EURUSD Price Analysis – 27 May

Buyers may break through the resistance level at $1.08, which would allow them to reach the $1.09 and $1.10 barrier levels. Prices may drop below the $1.06 and $1.05 support levels if sellers are successful in keeping the price below the $1.07 barrier.

EUR/USD Market

Key Levels:

Resistance levels: $1.08, $1.09, $1.10

Support levels: $1.07, $1.06, $1.05

 EURUSD Long-term Trend: Bullish

It is anticipated that the EURUSD will keep rising. The currency pair lost ground on December 28 and fell into the $1.05 region. The bears had lost their strength. The price began to rise as bulls gained traction. The resistance zone between $1.06 and $1.07 was broken. It hit $1.08, its previous high. Both the previously mentioned level and price drops below $1.06 were met with resistance from sellers. Due to their improved market power, purchasers have raised their asking prices since two weeks ago. As of right moment, the price is getting closer to $1.08.

Beneath the currency pair, the Hull Suite points to a bull market tendency. Buyers may break through the resistance level at $1.08, which would allow them to reach the $1.09 and $1.10 barrier levels. Prices may drop below the $1.06 and $1.05 support levels if sellers are successful in keeping the price below the $1.07 barrier.

EURUSD medium-term Trend: Bullish

A turnaround in the EURUSD is expected in the medium run. The currency pair has been under bearish pressure for the last three weeks. At $1.08, a double top chart pattern emerges. As the price approached and then surpassed the $1.07 threshold, it began to increase. The price has produced massive bullish candles ever since it crossed over the Hull Suite signal. At this time, the price increases from $1.06 to $1.08.

Right now, it costs more than Hull Suite forex signals. A higher QQE MOD score indicates a stronger bullish trend.

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