EURUSD Buyers Take the Stage as Sellers Weaken

EURUSD Buyers Pull into the Market

EURUSD buyers have stepped up as sellers begin to lose their grip. The pair has opened the new week with buyers pushing back against the sellers. After trading down to the 1.09770 key level, the buyers have managed to gain control at the 1.09210 significant level.

EURUSD Key Levels

Resistance Levels: 1.09770, 1.10000
Support Levels: 1.07340, 1.06720

The bulls began August with the Euro gaining strength, overcoming the selling pressure that persisted throughout July. The buyers gained momentum after intercepting the sellers at the 1.07780 significant level.

This shift fueled bullish liquidity as the buyers broke through the 1.08850 significant level. The buying momentum continued, pushing through the 1.10000 market area. Although sellers made an appearance last week, they have recently been overpowered once again.

The Bollinger Band indicator indicates strong market volatility, and the Money Flow Index shows an increasing upward trend as buyers continue to push.

Market Expectation

In the short-term timeframe, the Bollinger Band indicator shows low volatility as the price consolidates. This current squeeze suggests that prices may expand soon, and a rise in the Money Flow Index could give buyers the momentum needed for a breakout.

If the buyers regain their strength, the EURUSD market is likely to see a strong upward expansion once again. Traders should monitor forex signals closely, as buyers appear to be gaining strength this week.

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