FX.co ★ April 20, 2022 : EUR/USD Intraday technical analysis and trading plan.

Recent bullish pullback towards 1.1650-1.1680 (upper limit of the previous consolidation range) was expected to offer bearish rejection and a valid SELL Entry.

Significant bearish decline brought the EURUSD pair again towards 1.1550 levels which failed to provide sufficient BUYERS for too long period.

Hence, only a short- term sideway movement was demonstrated around 1.1550 before quick bearish decline could occur towards 1.1200.

On the other hand, the price levels around 1.1520 stood as a reference zone that applied significant bearish pressure upon two successive bullish visits.

Recent Bearish decline below 1.1100 was considered as a bearish continuation sign.

That's why, downside movement was expected to proceed towards 1.1000 then 1.0920 where the recent bullish pullback was initiated.

The price levels around 1.1150 ended the recent bullish move and a another bearish move is currently being expressed.

However, failure to record a new LOW below 1.0850 will probably enable more bullish advancement at least towards 1.1320.