EURUSD Analysis: Bears Outnumber Buyers in the Market as the Price Starts to Fall From the 1.11600 Significant Level
EURUSD bears outnumber buyers in the market as the price starts to fall from the 1.11600 significant level. The bears are ready to enhance price action to disperse in a downtrend format in the market. The 1.11600 significant level is a strong key level, and the sell traders are ready to release price projections as the bearish influence increases in the market. The sellers’ increasing influence will likely cause a price tendency downward to the key level of 1.08050.
EURUSD Market Zones
Resistance Zones: 1.21620, 1.14980
Support Zones: 1.11600, 1.08050 
The buyers were trying to change the market channel but failed due to price refusal to overcome the bearish influence in the market. The bearish era began after the market tested the 1.21620 significant level. The bears then manipulate the market to push the price impact below the 1.14980 significant point. The price took a long time to adjust to the bearish trend shortly after breaking through the 1.14980 key zone. This happened as a consequence of the price consolidation in the market. The price indecision gave rise to this phase.
As the bearish impact continues in the market, the price eventually cuts through the 1.11600 key level as it continues to trade downward. The trend ended when the price reached the 1.08050 market zone. The buyers are now observed to manipulate the bulls’ market up to the 1.11600 significant level. However, since the sellers now outnumber the buyers in the market, the price is dropping back to the 1.08050 market zone. The Moving Average Cross shows price reaction as it phases through the price trend in the market.
Market Expectations
The 4-hour chart of the market shows the price trend consolidating. Having caused a retest, the buyers are inclined to go beyond the 1.11600 significant level. The price is now set up to accompany a bearish distribution in the market. The MACD (Moving Average Convergence and Divergence) indicator shows a price signal as if it is following a bearish trend, with the price trading down to the 1.08050 market level.
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