See also
Early in the American session, EUR/USD is trading around 1.1091. The price is approaching the 200 EMA, showing a strong bearish bias. It could be reaching oversold levels.
In the next few hours, a technical bounce is likely to occur around 1.1086, or around 1.1075, both areas representing an important weekly support.
On the H4 chart, we can see that a double top pattern was formed, this caused a strong bearish trend, breaking the bullish trend channel formed since September 10. Now the instrument is located below this channel. It suggests that with any technical rebound, while trading below 1.1055, the outlook could remain negative.
In the meantime, we could look for opportunities to buy the euro in the next few hours if the price consolidates above 1.1075, with targets at 1.1127 and finally, at 1.1153 (21 SMA).
Technically, the eagle indicator is showing an oversold signal. So, we believe that a technical rebound could occur in the next few hours which could be seen as an opportunity to buy.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
Bitcoin is trading around $118,000, correcting after reaching the psychological level of $120,000, the area proven to be a strong barrier. BTC is likely to resume its bullish cycle
AUD/USD – Wednesday, July 23, 2025. All technical indicators for AUD/USD indicate significant strengthening, ranging from the 50-day moving average (EMA) and 200-day moving average (EMA) crossing a Golden Cross
EUR/GBP - Wednesday, July 23, 2025. Although the RSI (14) is in the Bearish Neutral area, but both EMAs are still in a Golden Cross condition where this is indicating
We could have a positive outlook for gold if it consolidates above 3,437. Then, it could reach the +1/8 Murray at 3,472 and even get the psychological level of $3,500
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.