EURUSD Plans a Sideways Trend Which Will Lead To 1.08210

EURUSD Analysis – The Market Plans a Sideways Trend Leading to the 1.08210 Critical Level

EURUSD plans a sideways trend as buyers are set to move back to the 1.08210 key level. The bullish grind is already seen as the buyers create more buying trends until the market is eventually brought up to the 1.08210 key level. The effect of buying high is that there are pending orders around the 1.08210 key level, which the sellers will activate as the price trend continues.

EURUSD Critical Levels

Resistance Levels: 1.12340, 1.09490
Support Levels: 1.08210, 1.03460
The buy traders, however, struggle to gain a stance since EURUSD is under siege by a bearish threat. The selling trend has been one of the most consistent trends being played out by the sell traders. The selling vendor began tilting the value of EURUSD after the induction of price accumulation above the 1.12340 critical zone. A fall followed by a short consolidation mapped out on the EURUSD is being mapped out.

The free fall continues as the sell-side tests the trend line. Another consolidation connotes the following price drop to 1.08210. What accompanied that afterwards was a selling force back to the 1.03460 key level. The buyers are currently driving the price movement forward as a sideways trend continues before selling pressure takes place on the daily chart.

Market Expectation

EURUSD is expected to rise back into the consolidation channel before any selling movement follows. As buyers grind the price level higher, the Stochastic follows suit. The Money Flow index shows the general price trend as a sideways movement, continuing to the 1.08210 critical level.

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