EURUSD Remains Bearish as Buyers Failed to Push Higher

EURUSD Analysis: Price Remains Bearish as the Price Fails to Push Higher Above 1.1100

EURUSD remains bearish as buyers fail to push prices above the 1.1100 market level. The sellers are willing to bear the price impact and settle the price trend even below 1.0800. When the bearish impulse gains more strength, the price will eventually continue to break through the levels in the market since buyers are not willing to change the price action in their direction.

EURUSD Market Zones

Resistance Zones: 1.22400, 1.17000
Support Zones: 1.11100, 1.08000
The price’s overall sentiment follows a bearish tendency. The sellers have been causing a considerable impact on the market phase. The bears have been moving the price trend downward since July 2021. The bearish movement follows a downswing in the market. However, buyers are not left out of the market. The price trend rebounded from the 1.17000 market zone before pulling downward with market strength down to the 1.11100 market level.

The Bollinger Band indicator shows prices ranging between the levels of the band. The price squeezes before breaking out through the lower levels of the market inside the Bollinger Band. The momentum speed is currently pushing up again as the bears are still engaging in price action in the market. The sellers are willing to breach the 1.08000 significant level as the market’s impulse increases.

Market Expectations

On the 4-hour chart, the price is set to resume its downtrend following a retest near the 1.11100 significant level. The bears’ strength keeps pushing through in the market, and the price is expected to breach the 1.08000 price movement in the market. The momentum indicator also influences price tendency as the sellers’ pressure increases. Therefore, traders should anticipate the market’s continuation in the bearish phase as price tendency increases.

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