EUR/USD: technical analysis and trading recommendations_08/23/2022

 
 
 
 
 
 
 

In general, the downward dynamics of EUR/USD remains. If the dollar is under pressure, then EUR/USD will receive an impulse for growth, but only within the framework of an upward correction.

EURUSD W

Today the pair has renewed the low since January 2003, dropping to 0.9900, and the pressure on it remains. Probably, the price will go lower. The first target of the decline is the mark of 0.9840, through which the lower border of the descending channel passes on the weekly chart.

EURUSD D

 Breakdowns of resistance levels 1.0000, 1.0105 (EMA200 on the 1-hour chart) will be signals for the beginning of an upward correction.

EURUSD 1

In the main scenario, we expect further decline. Below the key resistance levels 1.0765 (EMA200 on the daily chart), 1.1330 (EMA200 on the weekly chart) EUR/USD is in the zone of a long-term bearish market.

Support levels: 0.9900, 0.9840, 0.9800

Resistance levels: 1.0000, 1.0105, 1.0200, 1.0207, 1.0265, 1.0300, 1.0355, 1.0485, 1.0610, 1.0765, 1.0840

Trading Recommendations

Sell by market, Sell Stop 0.9890. Stop Loss 0.9965. Take Profit 0.9900, 0.9840, 0.9800

Buy Stop 0.9965. Stop Loss 0.9890. Take-Profit 1.0000, 1.0105, 1.0200, 1.0207, 1.0265, 1.0300, 1.0355, 1.0485, 1.0610, 1.0765, 1.0840