EURUSD Lacks the Mood for Expansion

EURUSD Analysis – Sellers Need Stronger Resolve 

EURUSD lacks the mood for expansion. Traders have found themselves in a corner, as the pair has been locked in a tight range throughout the month of February. Both the bears and the bulls have faced challenges in their attempts to dominate the market. 

EURUSD Key Levels

Resistance Levels: 1.11410, 1.09980
Support Levels: 1.08770, 1.07100

The bears initially gained momentum by pushing the EURUSD pair below the significant level of 1.07870 earlier this month. However, their progress has been hindered as they have been unable to breach the 1.07100 price level. This struggle indicates a lack of downward momentum for the bears. The market has not yielded to their side, and they have been unable to sustain their downward pressure on the pair.
 
On the other hand, the buyers have also faced challenges in their attempts to push the market in their favor. Despite their efforts, they have been unable to breach the significant level of 1.07870. 

EURUSD has shown a significant decline this year, with the US dollar outperforming the Euro for weeks. The market took a U-turn after reaching a high of 1.11410 earlier this year. Since the beginning of the year, the Parabolic SAR (Stop and Reverse) indicator has not signaled a shift in the market trend. This indicates that the selling trend is still dominant in the market.

In such a challenging market environment, it is crucial for traders to look out for the best signals to enter the market. Forex signals provide a safe means of trading for market traders. These signals are generated by experienced analysts who closely monitor the market and identify potential trading opportunities. 

Market Expectation 

For the bearish signal to intensify and for the market to experience a significant expansion, it is essential for the market to yield to a stronger resolve. 

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