EURUSD Consolidates as Buyers Lose Focus Below 1.12150 Key Level

EURUSD Buyers Pause as Price Consolidates

EURUSD price is consolidating as buyers struggle to sustain momentum below the critical 1.12150 resistance level. After a strong rally since July, where the bulls managed to push the pair up from the parity level of 1.06600, they reached their highest point of the quarter at 1.12150. However, a recent pullback has brought the price down to the 1.10000 level, and the buyers seem to be losing focus, leading to this period of consolidation.

EURUSD Key Levels

Resistance Levels: 1.12150, 1.13000
Support Levels: 1.10840, 1.10000

Despite the significant recovery from July, the bulls have struggled to break through the 1.12150 level, encountering strong resistance. The price has now consolidated below this key zone, with sellers gradually pushing the market lower. The inability to breach 1.12150 indicates a weakening of bullish momentum, allowing sellers to target the 1.10840 support area.

The RSI (Relative Strength Index) is showing signs of a market shift, suggesting that the bullish momentum is fading as sellers begin to take control. The Moving Averages are also struggling to provide clear direction, reflecting the uncertainty and consolidation in the market. With sellers gaining traction, a bearish crossover could soon occur, signaling further downside movement.

The current market structure indicates that sellers are positioning for further downside. With the price unable to break through the 1.12150 key level, the sellers have a chance to press lower, potentially testing the 1.10840 support area in the near term. If this level fails to hold, the next major support lies around 1.10000, where buyers may attempt to regain control.

Market Expectation

In the short term, EURUSD price is likely to continue consolidating, with sellers pushing towards the 1.10840 support level. The RSI and Moving Average crossover suggest that the market is tilting in favor of the sellers.

Unless buyers regain focus and break through the 1.12150 resistance, the pair will remain under selling pressure, with further downside expected in the coming days. Traders should watch for potential signs of bearish continuation or a recovery attempt by the bulls, and forex signals may offer further insight into market movements.

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