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EURUSD Price Reaches November 2021 Low, A Potential Bullish Reversal Zone – Cryptovibes.com – Daily Cryptocurrency and FX News

EURUSD Price Reaches November 2021 Low, A Potential Bullish Reversal Zone – Cryptovibes.com – Daily Cryptocurrency and FX News


EURUSD Price Analysis – March 28

Should the Bears increase their momentum and push down the price to break $1.17 levels, then, $1.16 and $1.15 may be tested. In case the bulls defend the support level of $1.17, there may be a bullish reversal towards the resistance level at $1.18, $1.19, and $1.20.

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 hold tight to the EURUSD market. There was an increase in the bears’ momentum and the price decrease further to turn the former support level of $1.18 to resistance level. Last week, a bearish engulfing candle formed to penetrate the $1.18 level, the $1.17 support level was tested.

EURUSD Daily chart, March 29

The two EMAs retains distance from each other and the pair is trading below the two EMAs which indicate that the bears’ pressure is increasing. Should the Bears increase their momentum and push down the price to break $1.17 levels, then, $1.16 and $1.15 may be tested. In case the bulls defend the support level of $1.17, there may be a bullish reversal towards the resistance level at $1.18, $1.19, and $1.20. The Relative Strength Index period 14 is below 40 levels with the signal line pointing down to indicate a sell.

 

EURUSD medium-term Trend: Bearish

EURUSD is bearish in the medium-term outlook. The currency pair remains under the bears’ control in the medium chart. The bearish momentum eventually decrease to the support level at $1.17 and the price pulled back. If the bears’ pressure increases to push down the price and break down the support level of $1.17, then $1.16 level may be reached.

EURUSD 4-hour chart, March 29

The price is trading below the 9 periods EMA and 21 periods EMA, the former EMA is below the later EMA. The Relative Strength Index period 14 is below 40 levels with the signal line pointing downside which indicate a sell signal.



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