Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday, July 20 2023

If we look on its 4 hour chart, EUR/USD main currency pairs seems like Buyers still dominates where this things confirmed by EMA 12 & 26 which is still intersecting Golden Cross as well as indicator CCI which manages to break above its three levels and hold on to the level 0 which indicates that there is significant support based on these facts, in the near future Fiber has the potential to rally up to test the 1.1253 level. If this level is successfully broken up, then the 1.1276 level will be the main target to aim for and the 1.1329-1.1376 area level will be the next target to go for. However, all of these strengthening scenarios will cancel itself out if on the way the EUR/USD rally goes up towards the target levels, it is suddenly corrected downwards and breaks below the 1.1134 level because if this level is successfully broken down then all strengthening rally scenarios previously described will become invalid and cancel automatically.

Analysis are provided by InstaForex

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