FX.co ★ Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Tuesday September 05,2023.

If we look at the 60 minute / 1 hour chart of the main EUR/USD currency pair, it can be seen that Fiber is in a ranging condition, which is indicated by the Predictive Range Average indicator (Dark Gray Line) which failed to make higher - highs, but even though it is in a ranging condition Sellers are still trying to dominate EUR/USD which can be seen from the Super Trend AI indicator which is still above price movement and is red and the last Logistic Regression indicator is giving a SELL signal (Pink) so based on these facts in the near future EUR/USD will try enter the level area 1.0670 - 1.0720 unless on the way to the level area there is a sudden upward correction which is quite significant enough to break above the 1.0807 level then the scenario previously described will become invalid and cancel automatically.

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