EUR/USD: in the bear market zone

EUR/USD: in the bear market zone

10 October 2022, 13:47
Yuri Papshev

If the dollar comes under pressure this week (in the case of the dovish rhetoric of the text of the minutes of the September meeting of the Fed and in the case of disappointing inflation data in the United States - for more details see the Major economic events of the week 10/10/2022 - 10/16/2022), then the EUR /USD may have a chance to recover a little after the strongest fall on fixing part of long positions in USD. In this case, a corrective growth to the resistance levels of 0.9905, 0.9970 is likely.

In the main scenario, we expect further decline. The nearest target is a local minimum and a support level of 0.9535. Further – towards the marks 0.8700, 0.8600.

Sell by market, Sell Stop 0.9675. Stop Loss 0.9775. Take-Profit 0.9600, 0.9535, 0.9500, 0.9400, 0.9300, 0.9200, 0.9000

Buy Stop 0.9775. Stop Loss 0.9675. Take-Profit 0.9800, 0.9810, 0.9900, 0.9970, 1.0195, 1.0335, 1.0510

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