{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurusd-is-likely-to-defy-the-1-06350-market-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurusd-is-likely-to-defy-the-1-06350-market-level\/","headline":"EURUSD Is Likely to Defy the 1.06350 Market Level","name":"EURUSD Is Likely to Defy the 1.06350 Market Level","description":"EURUSD Analysis – Price Is Displaying a Bearish Movement EURUSD is likely to defy the 1.06350 market level. The price continues to face bearish sentiment, with sellers gaining momentum and buyers weakening. On the daily chart, it becomes apparent that sellers are poised to dominate this week. Their increasing pace has put pressure on the […]","datePublished":"2023-09-19","dateModified":"2023-09-20","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\/2023\/09\/JU.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/09\/JU.png","height":568,"width":1195},"url":"https:\/\/forexschoolonline.com\/eurusd-is-likely-to-defy-the-1-06350-market-level\/","about":["Article","Article-com","charts","EUR\/USD","Forex","FX Technical Analysis","Price Action Charts in Focus","Support & Resistance","Technical Analysis"],"wordCount":294,"keywords":["Daily Chart","EURUSD","Forex","forex price action","FX Technical Analysis","Market Expectation","Price Action","Price Analysis","Price Chart","Technical Analysis"],"articleBody":"EURUSD Analysis – Price Is Displaying a Bearish MovementEURUSD is likely to defy the 1.06350 market level. The price continues to face bearish sentiment, with sellers gaining momentum and buyers weakening. On the daily chart, it becomes apparent that sellers are poised to dominate this week. Their increasing pace has put pressure on the buyers, resulting in the EURUSD displaying a robust bearish sentiment.EURUSD Key LevelsResistance Zones: 1.09760, 1.08200Support Zones: 1.06350, 1.05210Last week, the market temporarily closed higher as buyers attempted a retracement above the significant 1.06350 level. However, the bearish tendency gained strength when the Moving Average of days 9 and 21 crossed, signaling a bearish trend.This sell-off commenced at the 1.09760 significant level and has persistently broken through other key zones. Currently, the sell traders are eyeing the crucial 1.06350 level, with the buyers likely to exhaust their strength. The bears appear determined to defy the 1.06350 market zone.\u00a0Despite the prevailing bearish sentiment, it’s plausible that buyers could regain some strength in the near term. This week may witness a temporary respite for buyers before a potential bearish purge. The Stochastic Oscillator Indicator, currently stuck in the oversold region, implies that buy traders could exert influence on EURUSD.However, the Moving Average crossing acts as a resistance line as the price continues its southward trajectory. Ultimately, the bears are expected to strengthen further and potentially breach the 1.06350 market zone.Market ExpectationTurning to the 4-hour chart, it’s evident that the market retains a bearish setup despite occasional buy retracement attempts. EURUSD’s price action suggests a possible descent towards the 1.05210 market level.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. "}