EURUSD Analysis – The Bears Show Strong Resilience
EURUSD takes a further slide as bearish strength keeps emerging. The Bears have been on a straight selling streak, overcoming buy-back opposition. Although the Bulls put up a struggle last week. Their efforts to push the price upward before the end of January were dragged out as they failed to breach the significant level of 1.08950.
EURUSD Key Levels
Resistance Levels: 1.12940, 1.11420
Support Levels: 1.07240, 1.05140
This new week presents a tough challenge for the Euro market, as it needs to brace itself against the bearish pressure. The bears are attempting to break through the significant level of 1.07240. A further breach below this level would confirm the establishment of bearish strength, potentially pushing the price even lower. However, the 1.07240 level could also serve as a target for buyers to re-enter the market. They would need to put in extra effort to regain strength. This can be in their favor if they manage to pull through. 
Market Expectation
To navigate this market, traders can rely on the best forex signals, which will provide them with valuable insights and increase their chances of success. Currently, the Parabolic SAR (Stop and Reverse) indicator has yet to signal a reversal. Traders must therefore remain vigilant and watch out for either a continuation of the bearish momentum or a potential reversal at this moment. The tide remains in favor of the bears as their momentum continues to grow.
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
Leave a Reply