EURUSD Bearish Race Is Declining

EURUSD Analysis – The Market’s Bearish Race Is Declining in the Market as Bulls Plan to Take Over

EURUSD bearish race is declining in the market as bulls plan to take over. The bearish season of the market is already closing as the price keeps reacting at the structural level of 1.08090. The market views this order level as a strong reversal level for the EURUSD market. This implies that the buyers are setting in motion to take over the price at this significant level in the market. The trader’s expectation should be on the lookout for a price reversal at this key level in the price structure.

EURUSD Market Zones

Resistance Zones: 1.22110, 1.15170
Support Zones: 1.11930, 1.08090
The bears began their race following a change in direction at the 1.22110 key level. The price, therefore, begins its decline in the market as it enters a trending hallway. This is where the market starts to swing lower, creating several touch points in the market. However, the bearish cycle continued for a long time in the market, with prices trading downward. The Parabolic SAR (Stop and Reversal) shows the price trend following the price cycle.

The buyers plan to take over from the seller as the bearish race begins to decline in the market. Therefore, the price is set to rally from the significant level of 1.08090 in the market. The Stochastic Oscillator shows a price tendency in the oversold region of the market as the bulls plan to take over the market. The parabolic SAR is already raising dots below the support level in the market.

Market Expectations

On the 4-hour chart, traders should look for a reversal at the 1.08090 significant level of the market. The market is currently reacting at this level as we expect a bullish display in the market. The stochastic on the 4-hour time frame also shows the price in the overall region of the market as the bearish race starts to decline at the 1.08090 significant level.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.