EURUSD Faces Reversal as Sellers Regain Control

EURUSD Reverses Course as Sellers Dominate

EURUSD market reverses course as sellers dominate. The EURUSD pair has shifted in market dynamics, with sellers regaining control after approaching the 1.12000 key level. The sellers now hold a strong advantage, which could significantly impact the EURUSD market going forward.

EURUSD Key Zones

Resistance Zones: 1.12060, 1.15700
Support Zones: 1.09580, 1.07820

Last week, buyers initiated a strong rally following a rebound from the lower boundary of the Bollinger Bands. After managing to breach the 1.11570 significant level, the bullish momentum slowed. Once the sell-side trend confirmed itself in the middle area of the Bollinger Bands, it signaled the beginning of a bearish trend.

The Relative Strength Index (RSI) is now showing a crossover, indicating potential selling pressure in the market. This presents a challenge for EURUSD buyers, who were leading the charge last week. To regain momentum, buyers will need a stronger opening to counter the sell-side pressure.

The bullish push last week, which broke through the 1.11570 level, was short-lived. Sellers have since confirmed a bearish trend, causing concern for the bulls as the price moves through the middle of the Bollinger Bands.

Market Expectation

In the short term, sellers seem positioned to drive the price lower. The Bollinger Bands remain wide, signaling that sellers maintain control. It could take some time before buyers gather enough strength to make a significant move, especially as the RSI continues to trend downward.

The main issue for EURUSD buyers is the renewed strength of the sellers, who have successfully taken control of the market. As they push the price closer to the 1.12000 key level, it becomes evident that sellers currently hold the upper hand. Forex signals suggest that traders should closely monitor these developments for potential market shifts.

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