EURUSD Analysis – September 15, 2023

EUR/USD has once again reached the bottom of the falling price channel on the 4-hour chart. This suggests that another bounce could be expected in the coming days, potentially leading to a move towards the next target at 1.0768, followed by the top of the channel.

Immediate support for EUR/USD is located at 1.0631. If the price breaks below this level, it could trigger a further downside move towards the 1.0570 area.

It is important to closely monitor the price action and the behavior around the falling price channel. An additional bounce from the bottom of the channel would support the notion of a potential correction or consolidation. However, a breakdown below the immediate support level may indicate a continuation of the downtrend.

Consider these critical levels and future price movements to assess potential trading opportunities in EUR/USD, while keeping in mind the overall context of the falling price channel.