{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurusd-is-dropping-towards-confluence-zone\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurusd-is-dropping-towards-confluence-zone\/","headline":"EURUSD Is Dropping Towards Confluence Zone","name":"EURUSD Is Dropping Towards Confluence Zone","description":"EURUSD Analysis – Price Is Dropping Towards the Confluence Zone Around 1.09900 EURUSD is dropping towards the confluence zone around 1.09900. This is despite the best efforts of the buyers to divert the market back upwards earlier than expected. As a result, the price was blocked from falling at 1.12360. The market undulated for 9 […]","datePublished":"2022-02-01","dateModified":"2022-02-01","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/EURUSD-1Day.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/EURUSD-1Day.png","height":746,"width":1801},"url":"https:\/\/forexschoolonline.com\/eurusd-is-dropping-towards-confluence-zone\/","about":["Article","Article-com","Case Study","charts","EUR\/USD","Featured Articles","FX Technical Analysis","Money management","Price Action Charts in Focus","Support & Resistance","Survey","Trade Idea","Trade Setups"],"wordCount":311,"keywords":["Daily Chart","EURUSD","FX Technical Analysis","Market Anticipation","Price Action"],"articleBody":"EURUSD Analysis – Price Is Dropping Towards the Confluence Zone Around 1.09900EURUSD is dropping towards the confluence zone around 1.09900. This is despite the best efforts of the buyers to divert the market back upwards earlier than expected. As a result, the price was blocked from falling at 1.12360. The market undulated for 9 days on top of the level and even attempted to push through to the next upper level. But the market eventually went in the direction of its general trend – downward.EURUSD Significant LevelsResistance Zones: 1.22620, 1.17130, 1.15180Support Zones: 1.12360, 1.11290, 1.09900Since December 2016, the price has been climbing on an uptrend line. Despite several movements in the market, the price does not drop below the uptrend line. The next time the market touched down on the line was in 2020. The market almost broke it, but again, it withstood and continued the gradual uptrend.Once again, the market is dropping after a double bottom formation below 1.22620. The price has broken the neckline at 1.17130 and has fallen to 1.12360. The 1.12360 support level tries to halt the price fall, but it doesn’t take long to bulge. EURUSD has bounced down from the MA period 100 (Moving Average) and is now approaching the uptrend line again. Buyers are quietly hopeful of overturning the market on or before reaching the 1.09900 confluence.Market ExpectationsOn the 4-hour chart, the breakdown of the market below the 1.12360 support level has left the RSI (Relative Strength Index) tumbling into oversold status. Currently, there is some respite above 1.11290 and the price is now accumulating above the level. If the level is strong enough to withstand the fall in the market, then we could see a market reversal here or at the lower support of 1.09900.Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}