Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs Index, Tuesday March 07 2023.
March 7, 2023 5:22 am
Even though on the 4-hour chart the main EUR/USD currency pair shows a Bullish 123 pattern followed by Ross Hook (RH) but with the appearance of the Ascending Broadening Wedge pattern and the deviation between price movements and the Awesome Oscillator indicator it seems that in the near future Fiber will return to The initial bias is Bearish where if the correction to the upward rally does not break above the 1.0725 level then EUR/USD has the potential to depreciate to the 1.0566 level as the main target and the 1.0533 level will be the next target to go.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Even though on the 4-hour chart the main EUR/USD currency pair shows a Bullish 123 pattern followed by Ross Hook (RH) but with the appearance of the Ascending Broadening Wedge pattern and the deviation between price movements and the Awesome Oscillator indicator it seems that in the near future Fiber will return to The initial bias is Bearish where if the correction to the upward rally does not break above the 1.0725 level then EUR/USD has the potential to depreciate to the 1.0566 level as the main target and the 1.0533 level will be the next target to go.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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