FX.co ★ May 30, 2022 : EUR/USD Intraday technical analysis and trading plan.

A short- term sideway movement was demonstrated within the highlighted zone around 1.1600 before quick bearish decline could occur towards 1.1200.

On the other hand, the price zone around 1.1500 - 1.1600 remained a reference zone that applied significant bearish pressure upon two successive bullish visits before another bearish continuation sign was expressed.

Hence, downside movement proceeded towards 1.1000 then 1.0920 where short-term bullish pullback was initiated.

The price levels around 1.1150 hindered further bullish movement before another bearish move was aggressively expressed towards 1.0500.

Failure to persist below the newly-recorded LOW at 1.0350 enabled another bullish pullback towards 1.0800 where bearish trades can be offered.