EURUSD Refuses to Bow Under Pressure

EURUSD Analysis – Buyers Struggle for a Fight Despite Momentum Loss

EURUSD refuses to bow under pressure despite recent struggles. It has been a very active year for trading pairs, with buyers taking the lead and initiating a powerful rally. Since the last quarter of 2022, the bulls have been on the run with plenty of liquidity in the market, indicating their motivation to push further and gain more ground. The buyers have been successful in driving the price up from the parity level to the 1.09800 key zone by 2023. The strong momentum of the bulls has been sustained by the steady influx of liquidity, with the market capitalization increasing as more investors join the fray. This has allowed the buyers to increase their leverage and make larger trades, driving the price even higher. 

EURUSD Key Levels 

Resistance Levels: 1.09800, 1.08200
Support Levels: 1.02830, 0.99280

The sellers, however, have also played an important role in keeping the market balanced. They have been able to offset the buying pressure and prevent a price bubble from forming.
The currency pair is facing a difficult challenge in the market, with sellers attempting to push the price down beyond its current mark of 1.09800. Despite this, the pound sterling is still managing to hold its own against the dollar, refusing to accept defeat over the last few weeks. 
 
Last week saw the sellers come out in force as the dollar’s strength increased. This caused a decline in the value of the EURUSD, yet buyers have recently returned to the market, ready to show their strength. The Moving Average crossover is still in effect, and the buyers are prepared to make further inroads into the chart. 

Market Expectation

The EURUSD is currently at a crossroads, with buyers and sellers both vying for control of the market. The pound sterling has proven to be resilient in the face of the dollar’s strength, but it remains to be seen if the EURUSD will be able to break the 1.09800 barriers. The market is still fluctuating, and only time will tell how the situation will develop in the near future.

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