You are here: Home > articles > Forex > August 23, 2023 : EUR/USD Intraday technical analysis and trading plan.
August 23, 2023 : EUR/USD Intraday technical analysis and trading plan.
August 23, 2023 6:23 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
The EUR/USD pair had been trending down to 0.9600, the lowest level since 2002, but then rebounded strongly, especially around this vital support level.
The bears were not able to hold the next resistance level at 1.0100, and they lost ground to the bulls who drove the prices higher, This resulted in reaching new bullish targets at 1.0250, 1.0500, and 1.0600.
The bulls controlled the price action around the key level of 1.0550-1.0600, leading to more bullish continuation towards 1.1000 and 1.1200.
The recent bullish movement pursued towards the resistance zone around 1.1200 where lack of bullish momentum seemed to exist.
On the other hand, the current bearish pullback was facing a temporary support around 1.0950 where the short-term uptrend came to meet the pair.
After this short uptrend reversal, price is expected to decline towards to the price levels of 1.0600 which stands as a firm daily support to be watched for bullish rejection.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: