EURUSD Continues Downtrend as Sellers Dominate Below 1.09490 Level

EURUSD Analysis – EURUSD Buy Strength Weakens as Sellers Take Control

The EURUSD market continues its downtrend as sellers dominate below the 1.09490 level. The currency pair has maintained its decline, with sellers gaining momentum after breaching the 1.09490 mark. Last week’s brief retest of the 1.1100 level was met with a reversal, driving the pair further downward.

EURUSD Key Levels

Resistance Levels: 1.09490, 1.06500
Support Levels: 1.07760, 1.04500

The bullish momentum from August, which pushed prices as high as 1.2100, has since diminished, allowing sellers to establish a downtrend. With a clear break below the 1.09490 level, sellers are now targeting the next support at 1.07760, indicating sustained bearish pressure.

The Parabolic SAR indicates a continued downtrend, with bearish momentum strengthening as sellers maintain control. The RSI (Relative Strength Index) also points to further downward movement, aligning with the ongoing selling pressure.

The daily chart shows the market environment in a clear downtrend, making it unlikely for buyers to initiate a quick reversal, as sellers remain firmly in control.

Short-Term Outlook

In the short term, bearish momentum persists, with the Parabolic SAR and RSI both confirming the volatility and strength of sellers. If this trend continues, EURUSD price may extend its decline toward the 1.07760 support level.

For buyers to regain control, a clear reversal signal is necessary; however, sellers currently maintain the advantage. This could be a moment for buyers to prepare for a potential market reversal when the opportunity arises. Utilizing forex signals may assist in identifying the most opportune entry points.

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