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EURUSD Price Reverses at $1.16 Support Level, Bulls are Dominating Market  – Cryptovibes.com – Daily Cryptocurrency and FX News

EURUSD Price Reverses at $1.16 Support Level, Bulls are Dominating Market  – Cryptovibes.com – Daily Cryptocurrency and FX News


EURUSD Price Analysis – August 30

EURUSD may increase to $1.18 level when the bulls exert more pressure, in which it may be broken up and increase towards $1.19 and $1.20 price levels. Below the current price level are the $1.17, $1.16 and $1.14 support levels.

EUR/USD Market

Key Levels:

Resistance levels: $1.18, $1.19, $1.20

Support levels: $1.17, $1.16, $1.15, $1.14

EURUSD Long-term Trend: Bearish

EURUSD is bullish on the long-term outlook. The low of March was retested on August 19 but the level holds the price. Bulls gained more pressure and this is noticed with the formation of more bullish candles. The price increases and the resistance level of $1.17 was broken upside last week. At the moment, the price is facing the resistance level of $1.18 level.

EURUSD daily chart, August 30

EURUSD has penetrated the fast moving average (9) and the slow moving average (21 EMA) upside. The currency pair is trading above the two EMAs which is an evidence of a bullish momentum. EURUSD may increase to $1.18 level when the bulls exert more pressure, in which it may be broken up and increase towards $1.19 and $1.20 price levels. Below the current price level are the $1.17, $1.16 and $1.14 support levels.

EURUSD medium-term Trend: Bullish

EURUSD is bullish in the medium-term outlook. When the currency pair tested the resistance level of $1.17 last week. The currency pair consolidates at resistance level of $1.17. On August 27, bulls increased their pressure and a strong bullish candle emerges and broke up the resistance level of $1.17. The price is currently exposes to $1.18 level.

EURUSD 4 hours chart, August 30

The price is trading above the 9 periods EMA and 21 periods EMA as an indication of bullish momentum market. The relative strength index period 14 is above 60 levels with the signal line displaying a bearish signal which may be a pullback.



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