FX.co ★ September 19, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EURUSD bulls controlled the price action around the key level of 1.0550-1.0600, leading to more bullish continuation towards 1.1000 and 1.1200.

The recent bullish movement pursued towards the resistance zone around 1.1200 where lack of bullish momentum seemed to exist.

On the other hand, the recent bearish pullback was facing a temporary support around 1.0950 where the short-term uptrend came to meet the pair.

After this trend reversal, price was expected to decline towards to the price levels of 1.0800 which stood as a temporary daily support before another bearish decline could happen.

Early signs of bearish breakdown of the depicted uptrend were just observed. However, any upside pullback towards 1.0780 should be considered for a valid SELL Entry (backside of the broken uptrend).