May 9, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.
May 10, 2023 4:22 pm
The EUR/USD pair faced significant resistance around the 1.1500 price zone, leading to drops to levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600.
The market showed buying interest until it reached a peak around 1.0800-1.0850, followed by notable selling interest that caused a recent fall in prices. The price level of 1.0930 became a key resistance level, offering selling opportunities until a temporary upside movement lifted prices up to 1.1000.
Therefore, the current price level of 1.1000 should be watched carefully for price behavior and potential selling interest.
On the contrary, any downward movement towards 1.0600 should be examined for buying interest, as it could possibly trigger another upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD pair faced significant resistance around the 1.1500 price zone, leading to drops to levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600.
The market showed buying interest until it reached a peak around 1.0800-1.0850, followed by notable selling interest that caused a recent fall in prices. The price level of 1.0930 became a key resistance level, offering selling opportunities until a temporary upside movement lifted prices up to 1.1000.
Therefore, the current price level of 1.1000 should be watched carefully for price behavior and potential selling interest.
On the contrary, any downward movement towards 1.0600 should be examined for buying interest, as it could possibly trigger another upward movement.
The material has been provided by InstaForex Company – www.instaforex.com
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