PRESS RELEASE: EURUSD Price Retested the $1.1237 Level to Continue Bearish Trend

PRESS RELEASE: EURUSD Price Retested the $1.1237 Level to Continue Bearish Trend
June 18, 2019
PRESS RELEASE: Brazilian Financial Authorities Announce Regulatory Sandbox For Blockchain
June 18, 2019

EURUSD Price Analysis – June 17

EURUSD price may reach the previous low of $1.1124 demand level provided the demand level of 41.1181 does not hold the price. Should the level of $1.1181 holds, the price may reverse.

 

EUR/USD Market

Key levels:

Supply levels: $1.1237, $1.1299, $1.1349

Demand levels: $1.1181, $1.1124, $1.1072

 

EURUSD Long-term trend: Bearish

EURUSD is bearish on the long term outlook. The Bulls could not continue their bullish trend again after the retracement that took place on June 10 at $1.1349 supply level. The Bulls lost the momentum and a bearish engulfing candle pattern formed at the same level on June 12. The $1.1299 and $1.1237 levels were a broke downside with the strong bearish candles. The EURUSD is exposed to the demand level of $1.1181. Today, the Bulls were initially in control of the market but towards the closing of the market the Bears prevailed; thus, the daily candle turned to inverted pin bar.

EURUSD daily chart, July 17

The EURUSD price is currently trading below the 50 periods EMA and 21 periods EMA in which the latter is making attempt to cross the former downside. The Stochastic Oscillator period 14 is above 50 levels and the signal lines pointing down to indicate a strong sell signal. EURUSD price may reach the previous low of $1.1124 demand level provided the demand level of $1.1181 does not hold the price. Should the level of $1.1181 holds, the price may reverse.

EURUSD medium-term Trend: Bearish

On the medium-term outlook, EURUSD is bearish. The bullish broke out at the $1.1181 level, pushed up the EURUSD price to the supply level of $1.1349 level on June 07. The pair observed a pullback and retested the previous high but unable to break up the $1.1349 level. The Bears prevailed over the Bulls and the price declined towards $1.1181 level.

EURUSD 4-hour chart, June 17

The stochastic Oscillator period 14 is at the oversold level and the signal lines pointing up to indicate a buy signal.

Please note: Cryptovibes.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

The post EURUSD Price Retested the $1.1237 Level to Continue Bearish Trend appeared first on FXTimes.com – Daily Cryptocurrency and FX News .

This is a syndicated post from https://www.cryptovibes.com/analysis/eurusd-price-retested-the-1-1237-level-to-continue-bearish-trend/

Comments are closed.