EURUSD Struggles for Recovery Amid Bearish Pressure

EURUSD Buyers Struggles for Recovery

The EURUSD pair continues to trend downward, with sellers maintaining dominance near the critical 1.03300 support level last week. However, as selling pressure weakens at this zone, buyers are beginning to push for a recovery.

Key Levels for EURUSD

Resistance: 1.05160, 1.06200
Support: 1.03300, 1.02750

Despite attempts at a bullish resurgence, the market remains below the 1.05160 resistance level, indicating a challenging path for buyers looking to reverse the bearish trend. Recently, sellers drove EURUSD to a low of 1.03300, where the price encountered a strong rejection. This has allowed buyers to step in, though the inability to decisively break above the 1.05160 resistance reflects ongoing struggles.

The Stochastic Oscillator on the daily chart indicates oversold market conditions, presenting an opportunity for buyers to initiate a corrective move. Similarly, the Momentum Indicator suggests renewed buyer strength, signaling a potential shift in market dynamics.

EURUSD remains at a pivotal moment, with buyers striving to break out above the 1.05160 resistance to reverse the bearish trend. On the daily timeframe, buyers are actively challenging sellers in an effort to stage a recovery. While technical indicators point toward a possible rebound, the ongoing battle between market participants will determine the pair’s next significant move.

Market Expectation

Although bearish momentum persists, buyers are showing increasing resolve, as highlighted by the rising Stochastic Oscillator and Momentum Indicator.

A successful breakout above 1.05160 could open the door for further recovery, targeting the next resistance level at 1.06200. Conversely, if sellers maintain control, EURUSD could revisit the 1.03300 support level, potentially paving the way for further downside toward 1.02750. As market conditions evolve, traders may find valuable insights through forex signals to guide their strategies.

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