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EURUSD Price Retests $1.15 Price Level Before It Declines to $1.14 – Cryptovibes.com – Daily Cryptocurrency and FX News

EURUSD Price Retests $1.15 Price Level Before It Declines to $1.14 – Cryptovibes.com – Daily Cryptocurrency and FX News


EURUSD Price Analysis – October 18

In case the bears increases pressure and push the pair to test $1.14 level, it may break it down and may decline to $1.13 and $1.12 support levels.  Inability to break down $1.14 level may result to upward price reversal towards the resistance levels of $1.15, $1.16 and $1.17.

EUR/USD Market

Key Levels:

Resistance levels: $1.15, $1.16, $1.17

Support levels: $1.14, $1.13, $1.12

EURUSD Long-term Trend: Bearish

EURUSD is bearish on the long-term outlook. The sellers were able to push down the currency pair below the support level of $1.15. The price was decreasing towards the support level of $1.14. On October 13, the price pulled back to retest the broken level of $1.15. Today, the bears are gaining more pressure and the price may decline further.

EURUSD daily chart, October 18

The price is targeting the support level of $1.14 as EURUSD continue to trade below the two EMAs which is an evidence of a bearish movement. In case the bears increases pressure and push the pair to test $1.14 level, it may break it down and may decline to $1.13 and $1.12 support levels.  Inability to break down $1.14 level may result to upward price reversal towards the resistance levels of $1.15, $1.16 and $1.17.

 EURUSD medium-term Trend: Bearish

EURUSD is bearish in the medium-term outlook. Sellers have been dominating the EURUSD market for many days. The currency pair decline from the high of $1.18 and bottomed at $1.15 support level. It seems the bears’ momentum is getting weak as it cannot break down the level but rather consolidating around the mark.  Bulls gained more pressure and push up the pair to retest $1.15

EURUSD 4-hour chart, October 18

The price is trading around the 9 periods EMA and 21 periods EMA as an indication of consolidating market. The relative strength index period 14 is at 50 levels with the signal line displaying a bearish signal.



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