FX.co ★ October 3, 2022 : EUR/USD Intraday technical analysis and trading plan.

The EURUSD pair had been trapped between 1.0350 (the newly recorded Low) and 1.0750 which corresponds to the nearest existing SUPPLY level until bearish breakout below 1.0350 was recently achieved.

In the intermediate-term, the pair is just above the newly visited price levels around 1.0000 that haven't been visited since 2002.

That's why, some bullish recovery was recently demonstrated around 1.0000, especially around such an important psychological support.

The nearest supply level was located around 1.0200 where bearish rejection and a short-term SELL Entry were anticipated.

Hence, another bearish dip to test the price levels of 0.9500 was executed as expected.

Intensive bullish price action was demonstrated around these price levels (the lower limit of the current movement channel). Initial bullish target around 1.0100 is half-way from achievement.

On the other hand, any quick bearish pullback towards the price levels of 0.9520 should be considered as a valid BUY opportunity.