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EUR/USD Price Rebounds Resistance Level of $1.19, Targeting $1.17 Price Level

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The cost may penetrate the support degree of $1.17 and descend towards the past low of $1.16 cost level, further decrease may reach $1.15 just in case the bears increase their momentum. Should the bulls defend the $1.17 level and push the cost up to break up the resistance level of $1.18, then it will target $1.19 and $1.21price amounts

EURUSD style that is long-term
EURUSD is bearish on the term outlook that is long. On 31 August, EURUSD had the touch that is next the resistance amount of $1.19; that is clearly a bearish reversal signal and the bears forced the purchase price to break up the former support degree of $1.18. The movement that is bearish towards the need level of $1.17. The just mentioned help level is yet to be broken downside by the bears.

EURUSD is breaking the two EMAs downside and presently dealing below the 9 durations EMA and 21 periods EMA. The price may penetrate the help level of $1.17 and descend towards the last low of $1.16 cost level, further decrease may reach $1.15 in case the bears increase their energy. Should the bulls protect the $1.17 level and push the cost up to break the resistance level up of $1.18, then it will target $1.19 and $1.21 price levels. The period that is RSI have reached 50 levels utilizing the signal lines pointing down to indicates a sell signal.

EURUSD Trend that is medium-term
EURUSD is bearish within the outlook that is medium-term. The Bulls pushed up the purchase price to reach the opposition level of $1.19 last fourteen days. The resistance level mentioned holds the cost and the cost bounces off the level. Strong bearish candles emerged and penetrated the help that is dynamic downside. Also, the need level at $1.18 could not keep the price.

The pair is exchanging below the 9 durations EMA and 21 periods EMA and RSI duration 14 is at 40 amounts using the sign lines pointing down to indicate a sell signal. Buy Limit might be put at $1.17881, Take Profit at $1.18663, and Stop Loss at $1.17653. The cost may penetrate the support degree of $1.17 and descend towards.

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Billy Houghton

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