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EURUSD Price; Bears Prevails Over Bulls, Price Decrease May Continue – Cryptovibes.com – Daily Cryptocurrency and FX News

EURUSD Price; Bears Prevails Over Bulls, Price Decrease May Continue – Cryptovibes.com – Daily Cryptocurrency and FX News


EURUSD Price Analysis – June 07

When there is a breakup at the resistance level of $1.21 by the Bulls’ momentum, the price will push up above the resistance level of $1.22, and it may increase to $1.25 level. Inability to break up the resistance level of $1.21 by the bulls, the price may experience a breakdown of $1.19 support level which may extend to $1.18 and $1.17 levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.21, $1.22, $1.25

Support levels: $1.19, $1.18, $1.17

EURUSD Long-term Trend: Bearish

EURUSD is bearish on the long-term outlook. The buyers have been dominating the EURUSD market for several days. The bullish momentum pushes the pair above $1.21 level. In other words, the resistance level of $1.22 was reached. The bulls’ momentum becomes weak and could not break the mentioned level. Last week, a daily bearish candle formed that break down the support level of $1.21. A retest was carried out nevertheless the price may decrease further.

EURUSD d aily chart, June 07

EURUSD is trading slightly below the 9 periods EMA and 21 periods EMA at close contact as an evidence of an increase in the bearish momentum. When there is a breakup at the resistance level of $1.21 by the Bulls’ momentum, the price will push up above the resistance level of $1.22, and it may increase to $1.25 level. Inability to break up the resistance level of $1.21 by the bulls, the price may experience a breakdown of $1.19 support level which may extend to $1.18 and $1.17 levels.

EURUSD medium-term Trend: Bearish

EURUSD is bearish in the medium-term outlook. On the 4 hour chart, the price was on the ranging movement within the $1.22 and $1.21 price level. The bears prevailed over the bulls on June 03 and the price break down the $1.21 price level.

EURUSD 4 hour chart, June 07

The price is trading below the 9 periods EMA and 21 periods EMA, the two EMA are close to each other as an evidence of low volatile market. The relative strength index period 14 is below 50 levels with the signal line pointing downside indicating a sell signal.



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