EUR/USD Intraday technical analysis and trading plan - 04.07.2022

University Of Michigan Sentiment Index Is Released Today

Relevance up to 20:00 2022-07-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

The EURUSD looked oversold while approaching the price levels of 1.0800. That's when a temporary upside movement was approaching the price levels around 1.1200. This recent movement towards 1.1200 was suggested for another SELL opportunity which already reached its targets beyond the price level of 1.0400. The previous ascending movement above 1.0600 enabled further advancement towards 1.0800 where evident bearish rejection arises again. Currently, the EURUSD pair remains trapped between 1.0350 (the newly recorded Low) and 1.0750 which corresponds to the nearest existing SUPPLY level. On the other hand, the pair remains trapped under selling pressure to challenge the recent daily low around 1.0350 until breakout occurs.

 

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University Of Michigan Sentiment Index Is Released Today

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