April 13, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.
April 13, 2023 1:26 pm
The EUR/USD pair encountered significant selling pressure around the 1.1500 price zone after an ascending movement towards it.Subsequently, the pair started moving downwards, reaching levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600.Since then, The market remained under buying pressure until it hit a plateau around 1.0800-1.0850, after which significant selling pressure led to a recent price decline.The price level of 1.0930 acted as a significant resistance level and offered selling opportunities until the recent upside movement temporarily extended up to 1.1000.As a result, the price level around 1.1000 which has just been reached should be watched for price action and any upcoming selling pressure.Conversely, any downward movement towards 1.0600 should be monitored for buying pressure, as it could establish another upside movement.The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD pair encountered significant selling pressure around the 1.1500 price zone after an ascending movement towards it.Subsequently, the pair started moving downwards, reaching levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600.Since then, The market remained under buying pressure until it hit a plateau around 1.0800-1.0850, after which significant selling pressure led to a recent price decline.The price level of 1.0930 acted as a significant resistance level and offered selling opportunities until the recent upside movement temporarily extended up to 1.1000.As a result, the price level around 1.1000 which has just been reached should be watched for price action and any upcoming selling pressure.Conversely, any downward movement towards 1.0600 should be monitored for buying pressure, as it could establish another upside movement.The material has been provided by InstaForex Company – www.instaforex.com