July 21, 2023 : EUR/USD Intraday technical analysis and trading plan.
July 21, 2023 9:24 pm
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, any bearish pullback to the price levels of 1.1000 should be seen as an Intraday BUY Entry.
The material has been provided by InstaForex Company – www.instaforex.com
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, any bearish pullback to the price levels of 1.1000 should be seen as an Intraday BUY Entry.
The material has been provided by InstaForex Company – www.instaforex.com
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