EURUSD Bears Regained Momentum – Will Sustain the Bearish Pressure Further?


EURUSD has become impulsive and non-volatile after rejecting 1.2220 to 1.2200 resistance area. EURUSD bears have regained momentum. Will the bears sustain the bearish pressure further in the coming days? What are the charts and technical indicators are saying? Read more to find further insights into today’s EUR/USD Technical Analysis. 

June 14, 2021, | AtoZ Markets – EURUSD is currently trading around 1.2115 area and trying to recover higher. After rejecting 1.2220 to 1.2200 resistance level, the bears pushed the price downside quite impulsively and reached May 2021’s low. However, the bears failed to continue the bearish pressure below 1.2100 to 1.2090 support level and bounced higher. As per the current scenario, the price may retrace upward towards 1.2140 to 1.2150 area in the coming days.

EURUSD Bears Regained Momentum As the Resistance Level Worked Strongly

EURUSD is currently residing near 1.2115 area and trying to push upside. However, the price also broke below the dynamic level of 20 EMA on the daily chart.

EURUSD Bears

Image: EURUSD 4 Hour Chart

According to the 4-hour chart, EURUSD bears have regained momentum and currently trading around 1.2115 area. As per the current price action, the price may retrace higher towards the dynamic level in the process. So, if the price retraces towards 1.2140 to 1.2150 area and rejects with an impulsive bearish candle close, the bears may push the price downside towards 1.2100 to 1.2090 area again in the coming days. On the contrary, if the price can break over 1.2140 to 1.2150 area with an impulsive bullish candle, the bulls may regain momentum and push the price upward towards 1.2200 to 1.2220 area in the days ahead.

Furthermore, the dynamic level of 20 EMA is currently residing above the price. So, it may work as strong resistance to push the price down. However, the bulls may regain momentum if the price can break above the dynamic level in the coming days. Also, the MACD lines are currently residing below the 0.00 level and may have a bullish crossover. It indicates that the price may retrace upside before continuing the bearish pressure further in the process.

EURUSD May Continue Lower

According to the daily chart, EURUSD bears have regained momentum and currently trading around 1.2115 area. As per the current scenario, if the price retraces towards 1.2140 to 1.2150 area and rejects with an impulsive daily bearish candle, the bears may continue the bearish pressure towards 1.2100 to 1.2090 area as a first target. The second target will be 1.2020 to 1.2000 area if the price can break below 1.2100 to 1.2090 support level in the coming days.

EURUSD Bears

Image: EURUSD Daily Chart

Moreover, the dynamic level of 20 EMA is currently residing above the price. Along with the Kijun line and the Tenkan line. So, the dynamic level may work as strong resistance to push the price downside. Besides, the Kijun line and the Tenkan line may work as a confluence of the dynamic level in the process. However, the Kumo Cloud is still residing below the price, which may hold the price as strong support in the days ahead.

To conclude, as the price broke below 1.2150 to 1.2140 area with an impulsive daily bearish candle, there is a high chance that the bears may continue the bearish pressure further in the coming days. 

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