PRESS RELEASE: EURUSD Is Reversing at $1.1299 Moving Towards $1.1428

EURUSD Price Analysis – March 25

Today, the daily candle emerging is bullish from the ascending trend line breaking up the demand level of $1.1299 and expose to the supply level of $1.1360. The bullish trend will continue in case the daily bullish candle closes above the $1.1299 price level.

EUR/USD Market

Key levels:

Supply levels: $1.1360, $1.1428, $1.1494,

Demand levels: $1.1299, $1.1237. $1.1181

 

EURUSD Long-term trend: Bearish

EURUSD is bearish on the daily chart. EURUSD was bullish last week and the bullish momentum topped the pair at the supply level of $1.1428. Further increase of the EURUSD price was prevented by the Bears and the barrier at the level. The strong bearish candle emerged which indicate the arrival of the bears with strong momentum pushed down the price below $1.1299 price level after penetrated the $1.1360 mark. Today, the daily candle emerging is bullish from the ascending trend line breaking up the demand level of $1.1299 and expose to the supply level of $1.1360. The bullish trend will continue in case the daily bullish candle closes above the $1.1299 price level.

EURUSD Daily Chart, March 25

The Relative Strength Index period 14 is at 50 with the signal line point up to indicate buy signal and a further increase in EURUSD price.

 

EURUSD Short-term Trend: Bullish

EURUSD experienced price retracement on 4-Hour chart. The bulls were in control of the EURUSD market since March 8 till March 20. A reversal candle pattern formed at $1.1428 supply level called “Bearish engulfing” reversed the price down to $1.1299 price level; this may serve as a price retracement for the bullish trend.

EURUSD Medium Chart, March 25

The currency pair may likely resume its bullish trend as it has touched the ascending trend line. Unless the ascending trend line is penetrated downside, then the trend may change to bearish.

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