FX.co ★ July 22, 2022 : EUR/USD Intraday technical analysis and trading plan.

The recent movement towards 1.1200 was suggested for another SELL opportunity which already reached its targets beyond the price level of 1.0400.

The previous ascending movement above 1.0600 enabled further advancement towards 1.0800 where evident bearish rejection arised again.

The EURUSD pair had been trapped between 1.0350 (the newly recorded Low) and 1.0750 which corresponds to the nearest existing SUPPLY level until bearish breakout below 1.0350 was recently achieved.

Shortly after, the pair was approaching new price levels around 1.0000 that haven't been visited since 2002.

That's where price action was watched for significant bullish recovery especially around such an important psychological support. The nearest supply level is located around 1.0350 where bearish rejection should be anticipated.