EURUSD Price: Will It Reduce to $0.98 Level?

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


EURUSD Price Analysis – September 05

When the bears’ momentum break down the support level of $0.98, the price may reach support levels of $0.97 and $0.96. Should the buyers push up the price above the resistance level of $0.99, the price may increase to test the resistance level of $1.00 which may extend to $1.01 level

Key Levels:

Resistance levels: $0.99, $1.00, $1.01

Support levels: $0.98, $0.97, $0.96

EURUSD Long-term Trend: Bearish

EURUSD is bearish on the long term outlook. The bearish movement continues on the daily chart. Last week price was trading within the resistance level of $1.00 and the support level of $0.99.  Today, price decreases further with the aid of bears’ pressure. The price tested the support level of $0.98. the buyers are trying to oppose further price reduction.

The sellers’ pressure has penetrated the two EMAs downside. EURUSD is trading below the 9 periods EMA and the 21 periods EMA. When the bears’ momentum break down the support level of $0.98, the price may reach support levels of $0.97 and $0.96. Should the buyers push up the price above the resistance level of $0.99, the price may increase to test the resistance level of $1.00 which may extend to $1.01 level. The Relative Strength Index period 14 is at 35 levels with the signal line pointing down to indicate a sell signal.

EURUSD medium-term Trend: Ranging

EURUSD is on the ranging movement in the medium-term outlook. The bearish momentum has pushed the price to the low of $0.98 level. The sellers are defending the just mentioned level thereby make it difficult for the sellers to break down the level. The price started a ranging movement within $0.99 and $1.01. Ranging movement continues until a breakout.

The price is trading over and below the 9 periods EMA and 21 periods EMA, the two EMAs are not separated from each other as a sign of low bearish and bullish momentum in the market. Relative Strength Index period 14 is pointing up at 41 levels which indicate a buy signal.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *