EURUSD Still Has Hope for a Fresh High

EURUSD Analysis – Euro Faces a Setback Due to Selling Action

EURUSD still has hope for a fresh high despite selling action. The pair continues to remain in a tight range, with bulls and bears both hoping for a breakout in the near future. Despite the selling pressure in the market, the bulls are still looking for fresh highs. This could be a sign that the current pullback could be coming to an end soon. The 1.10580 level has been a significant level of resistance, and any attempts to push past it have been rejected.

EURCHF Key Levels

Resistance Levels: 1.10580, 1.05400
Support Levels: 1.03960, 0.95720

The bears have been pushing hard to reverse the current price action, and they may be getting closer to their goal. However, the buyers still remain bullish and are hoping for a new start. The EURUSD pair has been in a tight trading range for the past few weeks, which suggests that a breakout may be coming soon. The potential for a bullish breakout is still very much in play, as the buyers are still looking for a higher high.
 
The bulls will be looking for a break above the 1.10580 level to signal a new uptrend. Conversely, the bears will be looking for a break below this level to signal a new downtrend. The bulls will be looking for a surge in buying pressure to push prices higher, while the bears will be looking for a surge in selling pressure to push prices lower. In conclusion, the EURUSD pair is still in a tight trading range, and the bulls and bears are both hoping for a breakout in the near future. The potential for a bullish breakout is still very much alive, and the buyers remain hopeful for a new start.

Market Expectation

However, the bears are still pushing hard to reverse the current price action, and a break below the 1.10580 level could signal a new downtrend. The Stochastic Oscillator indicator is currently heading towards the 50.00 mark, which suggests that sellers are still in control of the EURUSD price. The Moving Average is also providing support to the bullish trend by acting as a support zone. This reinforces the overall trend, as buyers are still looking to break beyond the 1.10580 resistance level.

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