Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday June 20 2024.



If we look at the 4-hour chart of the main EUR/USD currency pair, then several interesting things can be seen, namely firstly there is the appearance of a Bearish 123 pattern followed by several Bearish Ross Hook (RH) then secondly this condition is also confirmed by the appearance of deviations between movements. Fiber price with the Stochastic Oscillator indicator and thirdly the price movement moves below the 100 MA which also has a downward slope which based on these three things gives an indication that in the near future EUR/USD will try to test the 1,0725 level. If this level is successfully broken, then 1,0668 will becomes the main target to be aimed at, even if the momentum and volatility are supportive, it is not impossible that level 1,0611 will be the next target to be aimed at, but please pay attention to level 1,0808, if this level is successfully broken above, then all the weakening scenarios that have been described will become invalid and automatically cancel itself.


The material has been provided by InstaForex Company - #

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