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EURUSD Price Approaches Potential Bullish Reversal Zone

EURUSD Price Approaches Potential Bullish Reversal Zone

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EURUSD Price Analysis – September 26

Once the bearish momentum breaks the $0.95 support level, the price may reach the $0.94 and $0.93 support levels. If buyers push the price above the $0.97 resistance level, the price may rise to test the $0.98 resistance level, which may extend to the $0.99 level.

EUR/USD market

Key levels:

Resistance levels: $0.97, $0.98, $0.99

Support levels: $0.95, $0.94, $0.93

EURUSD Long-term trend: Down

EURUSD is bearish on the long-term outlook. The currency pair rose last week. Buyers pushed the price to the highest resistance level of $1.01. The price started a fluctuating movement for several days at the $1.00 and $0.98 levels. Price tested the $1.01 resistance level on September 13 and pulled back to retest the $0.99 support level. On September 21, Sellers dominates the market with great speed. The $0.98 and $0.97 support levels were penetrated below and the $0.95 support level has been tested.

Tamadog OKX

Bear pressure has penetrated the two EMA downsides. EURUSD is trading below the 9 period EMA and the 21 period EMA. Once the bearish momentum breaks the $0.95 support level, the price may reach the $0.94 and $0.93 support levels. If buyers push the price above the $0.97 resistance level, the price may rise to test the $0.98 resistance level, which may extend to the $0.99 level. Period 14 of the Relative Strength Index is at the 25 level, and the signal line is pointing down to indicate a sell signal.

EURUSD medium-term trend: Down

EURUSD is bearish in the medium-term outlook. Buyers were unable to break the $1.01 resistance level, which was tested last week with a lot of buyer pressure. Buyers’ pressure weakened, and it was unable to break the resistance level just mentioned. A bearish candle was formed and the price broke the dynamic support levels. Seller pressure is increasing and the price is currently falling to the $0.95 level.

The price is trading below the 9-period EMA and the 21-period EMA, both EMAs are separated from each other as a sign of a bearish market. Period 14 of the Relative Strength Index points down to the 30 level, indicating a sell signal.

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