EURUSD Is Prepared to Charge Lower With Bearish Vigour

EURUSD Analysis – Price Is Prepared to Charge Down to 1.03610 With Vigour

EURUSD is prepared to continue to charge downward back to the 1.03610 key level with bearish vigour. The selling retailers have placed a price projection to drive the price back to the 1.03610 key zone. The price has been aggressive in preparation to shoot lower due to market reaction above the 1.06510 key level. The sell traders are now poised to distribute the price downward as the accumulation phase ceases.

EURUSD Key Levels:

Resistance Levels: 1.11920,1.09440
Support Levels:1.06510, 1.06310

The bear traders have been sensitive for a while; they know when to push price strength on the EURUSD. The major ordeal on the EURUSD has been the bearish sentiment. At the EURUSD price, there have been more orders to sell than there have been orders to buy. The price drive has been majorly controlled by the bear market. The buyers are not capable enough for now to change the EURUSD structure. Therefore, the selling effect will continue to vanquish the market.

Following the golden cross given by the EMA (Exponential Moving Average) of 50 and 25, there has been more display of a bearish trend due to the cross widening downward. The Stochastic Oscillator is currently falling as the price prepares to return to the 1.03610 key level after breaking through the trend line.

Market Expectations

It was observed by looking at the 4hr chart that the price of EURUSD has changed its structure. The market changed by declining towards the trend line from a short-term buy and is currently in a short-term sell. The 50 and 25 EMA already indicated a cross. We should therefore expect bearish momentum down to 1.03610, the key level.

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