EURUSD Buyers Seek A Recovery 

EURUSD Analysis – Buyers are Aiming For a Strong Recovery 

EURUSD buyers seek a recovery. The pair has been trading within a range, with significant levels acting as key points of interest for both buyers and sellers. The recent rally started at the 1.06880 level, where buyers showed firmness in the previous month. However, their efforts were limited, and they could only push the price up to the 1.09840 key level. This level proved to be a major resistance zone, as indicated by the Parabolic SAR Stop and Reverse.

EURUSD Key Levels

Resistance Levels: 1.09840, 1.08730
Support Levels: 1.06880, 1.06520

Following the rejection at the 1.09840 level, the market witnessed a shift in momentum, with more bearish activity taking control. The sell traders successfully attacked the 1.08730 significant level, putting downward pressure on the price. However, the buyers managed to recover their strength and prevent the sellers from breaching the 1.07910 key level.

Market Expectation 

While the recent correction from the sellers has been successful in pushing the price lower, it is unlikely to hold for a long time. The Parabolic SAR Stop and Reverse indicator reflects the sellers holding more strength, but the buyers are not giving up easily. They are putting up a challenge to repel the selling strength and maintain their position above the 1.07910 key level.

For sell traders who are looking to take advantage of the potential sell return, it is advisable to use forex signals. It will help them filter out potential losses to be experienced.

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