EURUSD Sellers Remain in Control Amid Strong Bearish Momentum
The EURUSD market continues its downward trajectory, with bears eyeing the significant 1.07780 support level. The pair has faced relentless selling pressure, showing a strong tendency to decline further. This bearish trend began after EURUSD failed to break the key 1.12150 resistance twice in recent months. Last month, sellers fully took control after breaching the critical 1.10640 level, and their influence has only grown stronger since breaking through the 1.09470 area in recent weeks. With the bears dominating, the likelihood of the price dipping further remains high.
Key Technical Levels:
Resistance Levels: 1.09470, 1.10640
Support Levels: 1.07780, 1.07000
EURUSD price has been in a steep decline ever since it failed to surpass the 1.12150 resistance, leading to intense downward pressure. The buyers’ inability to reclaim control has resulted in a sharp market sell-off, pushing the price lower week after week. The bearish sentiment intensified last month, especially after the price fell below 1.10640. Since then, sellers have maintained their grip on the market, with attention now shifting to the 1.07780 support as the next critical level.
The Parabolic SAR (Stop and Reverse) indicator continues to show a robust bearish trend, with the dots consistently appearing above the price, indicating that sellers remain in control. Additionally, the Moving Average crossing confirms the bearish outlook, with a widening spread further suggesting that the downtrend is gaining strength.
Currently, there are no signs of relief for buyers as bearish sentiment deepens. Both the Parabolic SAR and the Moving Average crossing align with the sellers, confirming the continuation of the downtrend.
Market Expectation
In shorter time frames, the market exhibits a deeper bearish trend, with sellers driving the price lower. Strong selling pressure indicates a potential move toward the 1.07780 support level. 
If the bears maintain their control, this key level could be tested in the coming days, as both the Parabolic SAR and Moving Average signals suggest the market is not yet ready to reverse. Traders are also keeping an eye on forex signals as the bearish momentum continues.
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