empty
 
 
22.10.2021 07:05 PM
October 22, 2021 : EUR/USD Intraday technical analysis and trading plan.

This image is no longer relevant

Bearish persistence below the price zone of 1.2050-1.2000 allowed the recent downtrend to be established.

So, the EURUSD pair has expressed significant bearish decline while the price level of 1.1650 stood as a prominent demand level that prevented further bearish decline.

The bullish pressure that originated around 1.1650 failed to push higher than the price level of 1.1900. That's why, another bearish pullback towards 1.1650 was executed.

Bullish signs were expected around the price levels of 1.1650-1.1700 as it corresponded to a recent previous bottom.

However, extensive bearish decline has pushed the EURUSD pair towards 1.1600 and lower levels was about to be reached if sufficient bearish momentum was maintained.

Moreover, significant bullish recovery has originated by the end of Sunday upon testing the price level of 1.1570.

Upcoming bullish pullback towards 1.1650-1.1680 should be considered for bearish rejection and a valid SELL Entry. Initial T/P levels are located around 1.1570 and 1.1530

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 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.
    JOIN CONTEST
  • 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.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

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