Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday April 13 2023.
April 13, 2023 7:22 am
Currently on the daily chart, the main EUR/USD currency pair appears to be stuck in its Bearish Rejection Block (Pink) area and there are also signs of weakening volatility from the upward rally movement which is indicated by the failure of the Fiber price movement to test and touch the upper Bollinger Band level and at the same time the Stochastic indicator is already at the Overbought level based on these facts in the next few days. As long as there is no movement back to its initial bias which exceeds the 1.1033 level, then EUR/USD has the potential to fall down to test the 1.0838 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Currently on the daily chart, the main EUR/USD currency pair appears to be stuck in its Bearish Rejection Block (Pink) area and there are also signs of weakening volatility from the upward rally movement which is indicated by the failure of the Fiber price movement to test and touch the upper Bollinger Band level and at the same time the Stochastic indicator is already at the Overbought level based on these facts in the next few days. As long as there is no movement back to its initial bias which exceeds the 1.1033 level, then EUR/USD has the potential to fall down to test the 1.0838 level.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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