Technical analysis on EURUSD for August 23rd, 2022.

Important Update for RobotFX Visitors

We want to sincerely apologize for any confusion or inconvenience caused by our recent website restructuring.

The main RobotFX hub has officially moved to our new, streamlined address at robotfx.org (without the "www" prefix). While our main operations have shifted, we want to reassure you that this archives site, old.robotfx.org, will remain fully active. You can still access our complete library of past posts, historical trading analysis, and legacy articles right here.

However, for the latest updates, newer content, and a significantly faster, more optimized browsing experience, we highly recommend heading over to our primary home at https://robotfx.org.

Thank you so much for your continued support and patience as we improve our digital services.

Red lines- bearish medium-term channel

Green line- bullish RSI divergence

EURUSD is bouncing today but price remains below parity. Price has made a low around 0.99 earlier today. Technically there is no change in the medium- or even short-term trend. As we mentioned in previous posts, EURUSD is vulnerable to a decline towards 0.97. EURUSD continues making lower lows and lower highs. Today's bounce can not be seen more than a counter trend bounce and each bounce is considered as a counter trend bounce and selling opportunity. This remains true as long as price is below 1.0285. Only a move above 1.0285 will make us reconsider a change in medium-term trend.

Trading analysis offered by Flex EA.
Source