{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurusd-slump-persists-as-bears-target-1-07780-support-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurusd-slump-persists-as-bears-target-1-07780-support-level\/","headline":"EURUSD Slump Persists as Bears Target 1.07780 Support Level","name":"EURUSD Slump Persists as Bears Target 1.07780 Support Level","description":"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. […]","datePublished":"2024-10-24","dateModified":"2024-10-24","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/10\/EURUSD-1DAY-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/10\/EURUSD-1DAY-1.png","height":617,"width":976},"url":"https:\/\/forexschoolonline.com\/eurusd-slump-persists-as-bears-target-1-07780-support-level\/","about":["Article","Article-com","charts","EUR\/USD","Featured Articles","Forex","Forex Strategies","FX Technical Analysis","Price Action Charts in Focus","Support & Resistance","Technical Analysis","Trade Idea","Trading"],"wordCount":364,"keywords":["Daily Chart","EURUSD","Forex","forex price action","FX Technical Analysis","Market Expectation","Price Action","Price Analysis","Price Chart","Technical Analysis","trading"],"articleBody":"EURUSD Sellers Remain in Control Amid Strong Bearish MomentumThe 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, 1.10640Support Levels: 1.07780, 1.07000EURUSD 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 ExpectationIn 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.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 for your investing results."}