EURUSD Price May Experience Bullish Reversal in Case $1.1206 Level Holds.

EURUSD Price Analysis – December 20

The bearish momentum is getting weak and EURUSD price may reverse at the support level of $1.1206. Should the level of $1.1206 is defended by the bulls, the price may reverse and face resistance level of $1.1295 and $1.1375.The breakdown of $1.1206 level will expose the price to $1.1103 and $1.1025 level

Key levels:

Supply levels: $1.1295, $1.1375, $1.1432

Demand levels: $1.1206, $1.1103, $1.1025

EURUSD Long-term trend: Bearish

EURUSD is bearish on the long term outlook. Bears are still prevailing over the bulls in the EURUSD market. Bulls are trying to push up the price when the support level of $1.1206 holds but bears are opposing the movement. Last week, the currency pair experienced a ranging movement within the $1.1395 and $1.1206 levels. There was a partial breakout at $1.1295 resistance level on 16 December but the bears interrupted the movement.

Leave a Comment

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s