Technical Analysis with Bollinger Bands Indicator on EurUsd Pair Market on Sunday, May 10, 2026 The bearish pressure that dominated trading on the EurUsd pair market last Friday failed to be sustained by the sellers, as they were strongly confronted by the buyers who managed to control the market with greater strength. This subdued the bearish sellers above the buyer support area at the price of 1.1725-1.1726, allowing the buyers to take control of the price from the sellers. Subsequently, the price surged upwards in a bullish manner due to the strong buying pressure from the buyers.
Monitoring with the Bollinger Bands indicator on the Daily timeframe, it is observed that the price or candlestick was successfully held by the buyers, moving upwards away from the Middle Bollinger Bands area at the price of 1.1735. This was supported by the formation of a bullish Engulf candlestick and the Bollinger Bands lines opening upwards, indicating that the buyers are likely to continue dominating the price action. With the increasing bullish pressure from the buyers, they aim to push the price even higher towards and test the Upper Bollinger Bands area at the price of 1.1813. A strong breakout is needed in this area for the buyers to maintain the bullish momentum and strengthen the bullish trend. The trading of the EurUsd pair market on the upcoming Monday is expected to remain under the strong control of the buyers, pushing the price upwards in a bullish manner. The target is to reach the nearest resistance area of the sellers, which must be convincingly broken out. If successful, the price is likely to continue rising even higher in a bullish trend. However, caution is advised in case the nearest resistance from the sellers manages to halt the bullish momentum, potentially leading to a bearish reversal towards the nearest buyer support area. Considering the strong bullish pressure from the buyers and the price staying above the Middle Bollinger Bands area, tomorrow's trading is expected to continue strengthening in a bullish direction. Traders may look for buying opportunities or consider placing pending orders as follows: A sell entry can be initiated if the sellers break below the nearest buyer support area at the price of 1.1739-1.1738, with the target Take Profit (TP) area at the price of 1.1698-1.1697. A buy entry can be considered if the buyers break above the nearest seller resistance area at the price of 1.1803-1.1804, with the target Take Profit (TP) area at the price of 1.1826-1.1827.
