08.06.2023 08:08 PM
June 8, 2023 : EUR/USD Intraday technical analysis and trading plan.

This image is no longer relevant

The EUR/USD pair fell to 0.9600, a level not seen since 2002, and then rebounded strongly, especially near this critical support level.

The next resistance level at 1.0100 did not deter the bulls, who lifted the prices higher along the bottom of the shown movement channel. This led to reaching new bullish targets at 1.0250, 1.0500, and 1.0600.

Moreover, the bulls also controlled the price action near the important level of 1.0550-1.0600, resulting in more bullish continuation towards 1.0800.

Besides, there is a possibility of more bullish movement towards the nearest resistance zone around 1.1150-1.1200.

On the other hand, any bearish pullback to the price levels of 1.0500 should be seen as a good long-term buying opportunity.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback