EURUSD Bears’ Struggle Is Close to an End

EURUSD Analysis – Bears’ Struggle Is Set to Come To an End

EURUSD bears’ struggle is close to an end as the bulls’ race begins to set up. The bulls are preparing to push the market forward from the old price level, and they are prepared to take over the entire market. Price will, however, change its trend as the bullish momentum accelerates. Despite being in a bearish moment, the buyers are already showing their strength by accumulating price movement at this level. The price must, however, change its market phase as the momentum phase increases.

EURUSD Significant levels:

Resistance Levels: 1.16700, 1.19100
Support Levels: 1.16100, 1.15300
After a severe downward trend, the market has been in a sellers’ phase for quite some time. We first presume this when the price retests the 1.19100 crucial level three times, signaling that this level is a hard price block. Following that, EURUSD continued to fall, reaching as low as 1.16700. We can expect a retest at this level before the market breaks out and resumes its downward trend. Before slipping to the 1.15300 important level, the price broke through the 1.16700 price level, then the 1.16100 significant barrier.

The bulls and the bears are seen accumulating between the range of 1.16700 and 1.15300 price levels. The market, despite being in a downtrend, will finally come to an end and give way to the bullish phase. Price will assume its bullish momentum after holding positions around the 1.15300 significant price level. The Stochastic Oscillator movement crosses multiple times downward, indicating the price movement trend will be over soon.

Market Expectations

On the 4hour chart, the market is seen ranging between the two significant levels. The struggle between the bears and the bulls gets stronger as the market continues to accumulate. The price will, however, soon gain bullish strength to rise upward. The Moving Average is set to give a new cross as the bulls are preparing to take over the market. The bears are not willing to give up the chase in the market, as they look forward to bringing prices downward. However, the bears’ struggle will eventually come close to an end as the market drops at the 1.15300 significant level.

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