EURUSD Succumbs to Seller Dominance
The EURUSD pair faces consistent bearish pressure around the critical 1.06610 level, entrenched in a downward trend as sellers hold control. This trend is largely driven by a strengthening US dollar amid a risk-off market sentiment and a softening Euro.
EURUSD Market Levels:
Resistance Levels: 1.08000, 1.07400
Support Levels: 1.06610, 1.05200 
After a brief bullish attempt last month, where prices rose above 1.09200, sellers quickly reasserted control, pushing the market lower. The Parabolic SAR (Stop and Reverse) dots now appear above the price action, signaling a sustained bearish reversal. The spread of the indicator further emphasizes downward momentum, suggesting limited potential for a bullish recovery in the short term.
The MACD indicator also reflects bearish sentiment, with the MACD line positioned below the signal line, indicating continuous selling pressure. The histogram remains negative, reinforcing the EURUSD sellers’ hold on the market.
Given these strong bearish indicators, EURUSD may test lower support levels. If sellers sustain their momentum, the next potential target could be the 1.06000 support level. For any bullish recovery, a break above the 1.08000 resistance—an area where sellers have historically been active—will be necessary.
Market Expectation
On shorter time frames, the bearish outlook remains firm as sellers persistently exert pressure, with price struggling to rebound from the 1.06610 level. The Parabolic SAR on lower time frames also aligns with the daily chart, maintaining a bearish trend. Additionally, the MACD confirms ongoing downward pressure with a growing bearish histogram, suggesting that traders who use forex signals may want to be patient in case of further downside movements.
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