12.07.202308:14 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Wednesday July 12, 2023.

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If we look at the 4-hour chart of the main EUR/USD currency pair, it can be seen that the EMA periods 12 & 26 open upwards to form a Fan which means that the bias of Fiber is Bull where this condition is also confirmed by the CCI indicator which managed to penetrate above three levels starting from - 100,0, & 100 however, after successfully breaking above the 1.1027 level now EUR/USD seems to be pulled down by a downward correction first where the 1.1010 and 1.0994 levels will be the targets to be addressed but as long as the downward correction does not exceed below the 1.0982 level then EUR /USD still has the potential to go back up to the level of 1.1096.

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