September 22, 2023 : EUR/USD Intraday technical analysis and trading plan.
The EURUSD 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, the recent bearish pullback was facing a temporary support around 1.0950 where the short-term uptrend came to meet the pair.
After this trend reversal, price was expected to decline towards to the price levels of 1.0800 which stood as a temporary daily support before another bearish decline could happen.
Early signs of bearish breakdown of the depicted uptrend were just observed. However, any upside pullback towards 1.0780 should be considered for a valid SELL Entry (backside of the broken uptrend).
The GBP/USD pair has shown signs of bearish rejection just below 1.3200, initiating the recent bearish movement. After bearish closure below the price level of 1.2800 on a H4 candlestick, it continued to fall toward 1.2500 where the depicted uptrend line comes to meet a significant Fibonacci Level. This should be considered for Intraday traders...
September 22, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.
By the end of June, the buyers struggled to break above 1.0930, which was a crucial hurdle, and only managed to reach 1.1200 briefly before the bears took over. Shortly after, the EUR/USD pair has been trading in a narrow range between 1.0600 and 1.1000, waiting for a clear direction from the market sentiment and...