June 2, 2023 : EUR/USD Intraday technical analysis and trading plan.
June 2, 2023 7:23 pm
The EUR/USD pair dropped to 0.9600, a level last seen in 2002, and then bounced back strongly, especially around this crucial support level.
The next resistance level at 1.0100 did not stop the bulls, who pushed the prices higher along the lower edge of the shown movement channel. This resulted in reaching new bullish targets at 1.0250, 1.0500, and 1.0600.
Furthermore, the bulls also dominated the price action near the important level of 1.0550-1.0600, leading to more bullish continuation towards 1.0800.
In addition, there is a chance of more bullish movement towards the nearest resistance zone around 1.1150-1.1200.
On the other hand, any bearish pullback to the price levels of 1.0500 should be considered as a good long-term buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD pair dropped to 0.9600, a level last seen in 2002, and then bounced back strongly, especially around this crucial support level.
The next resistance level at 1.0100 did not stop the bulls, who pushed the prices higher along the lower edge of the shown movement channel. This resulted in reaching new bullish targets at 1.0250, 1.0500, and 1.0600.
Furthermore, the bulls also dominated the price action near the important level of 1.0550-1.0600, leading to more bullish continuation towards 1.0800.
In addition, there is a chance of more bullish movement towards the nearest resistance zone around 1.1150-1.1200.
On the other hand, any bearish pullback to the price levels of 1.0500 should be considered as a good long-term buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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