TradingView Analysis

EURUSD Price: Further Increase of Sellers’ Pressure May Send Price to $1.16 Level

EURUSD Price Analysis – July 05

In case the support level of $1.17 is broken downside, the price may likely test the support level of $1.17 which may extend to $1.16 level and $1.15. Inability to break down the support level at $1.17 may result to a bullish movement continuation towards the $1.18, $1.19 and $1.20 levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.18, $1.19, $1.20

Support levels: $1.17, $1.16, $1.15

EURUSD Long-term Trend: Bearish

EURUSD is bearish on the long-term outlook. The bears’ pressure increase further and this led to the further decrease of the EUROS. The fall of EURUSD is due to the increase in the strength of US Dollar. The currency pair decreases to the support level at $1.18, it penetrates the level and the price decreases towards the support level of $1.17.

EURUSD Daily chart, July 05

EURUSD continuous trading below the 9 periods EMA and 21 periods EMA which is an evidence of an increase in the bearish momentum. In case the support level of $1.17 is broken downside, the price may likely test the support level of $1.17 which may extend to $1.16 level and $1.15. Inability to break down the support level at $1.17 may result to a bullish movement continuation towards the $1.18, $1.19 and $1.20 levels.

EURUSD medium-term Trend: Bearish

EURUSD is bearish in the medium-term outlook. The prevailing force of the bears that pushed the price away from consolidation zone increases further, the price decline further to test the $1.17 level.  The bulls could not increase their pressure and the price decreases towards the resistance level of $1.17.

EURUSD 4 hour chart, July 05

The price is trading over and around the 9 periods EMA and 21 periods EMA, the two EMA are interlocked to each other as an indication of ranging market. The relative strength index period 14 is at 50 levels with the signal line displaying a bearish direction.

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