EURUSD Changes Course to Bullish Favor

EURUSD Analysis – Buyers Fight for More Buying Dominance

EURUSD changes course to bullish favor at the beginning of this week. The pair has been on a bumpy ride this week, with buyers questioning the bearish dominance from the early days of the week. The Parabolic SAR (Stop and Reverse) indicator has been a major factor in driving the change in price action, suggesting a potential reversal back to the 1.08110 price level. However, the buyers have been met with a great deal of resistance from the sellers, who have been intensifying their presence in the price action. With many analysts predicting a possible retest of the 1.08110 level, the coming days will be a crucial period for the pair.

EURUSD Market Zones

Resistance Zones: 1.10560, 1.08110
Support Zones: 1.03340, 1.05350

The EURUSD will need to overcome the seller’s resistance if the buyers want to break through the 1.08110 level. This could be a difficult task, as the sellers have been throwing various obstacles at the buyers at every turn. In the meantime, traders should be prepared to adjust their positions if the price action deviates from the expected trajectory.

The EURUSD pair has been on quite the journey since March, with bulls pushing prices up from the 1.05350 market level to the 1.10560 significant zone in April. However, sellers have been able to take control of the market in May, breaking through the 1.08110 significant zone.

Market Expectation

Currently, the EURUSD buyers are showing signs of life, resulting in mixed sentiment in the market. The buyers will likely pull the market back to the 1.08110 significant zone, and this should be viewed as a potential buying opportunity. This is further supported by the fact that the Parabolic SAR has changed its course, indicating that buying action is taking place in the market. However, traders should remain vigilant and be aware of the potential for a change in price trends. It is important to be aware of the risk of a trend reversal and to pay close attention to any signs that the current market sentiment is shifting.

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