August 23, 2021 : EUR/USD daily technical review and trading opportunities.

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Recently, Persistence below the depicted price zone of 1.1990 indicated further downside movement towards 1.1840 and 1.1780 where a sideway consolidation range was established.

During last week, the EURUSD pair has been trapped within a narrow consolidation range between the price levels of 1.1780 and 1.1840. A bullish breakout was executed above 1.1840 shortly after.

Temporary Upside pullback was expected towards 1.1990. However, re-closure below the price level of 1.1840 has initiated another downside movement towards 1.1780 which failed to hold prices two weeks ago.

On the other hand, intraday traders were advised to wait for another candlestick closure above 1.1780 for another ascending swing to be initiated. Candlestick closure above 1.1780 was achieved earlier Today.

Initial targets are expected to pursue towards 1.1840 and 1.1910.

The material has been provided by InstaForex Company - www.instaforex.com

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