FX.co ★ April 20, 2022 : EUR/USD daily technical review and trading opportunities.

Few Months ago, the EURUSD pair has been moving above the price levels of 1.1750-1.1800.

In late September, Re-closure below the price level of 1.1700 has initiated another downside movement towards 1.1500.

Price levels around 1.1700 managed to hold prices for a short period of time before another price decline towards 1.1200.

Then the EURUSD has temporarily moved-up within the depicted movement channel until downside breakout occurred recently.

Since then, the price zone around 1.1500 has been applying significant SELLING pressure on the pair where a valid SELL Entry was offered upon the previous ascending movement towards it.

Shortly after, the EURUSD looked oversold while approaching the price levels of 1.0850. That's where the recent upside movement was initiated.

Any movement towards 1.1200 should be considered for another SELL trade as long as sufficient SELLING pressure is demonstrated.