EUR/USD: technical analysis and trading recommendations_08/29/2022

 
 
 
 
 
 
 

This month, the pair hit the lowest level since January 2003, dropping to 0.9900, and the pressure on it remains. Probably, the matter will not be limited to a local minimum of 0.9900, and the price will go lower. The first target of the decline is the level 0.9840, through which the lower border of the descending channel on the weekly chart passes.

EURUSD W

Below the key resistance levels 1.0735 (EMA200 on the daily chart), 1.1330 (EMA200 on the weekly chart) EUR/USD is in the zone of a long-term bearish market. A break of today's low at 0.9915 will confirm bears' tough intentions on this pair.

Support levels: 0.9915, 0.9900, 0.9840, 0.9800

Resistance levels: 1.0000, 1.0018, 1.0105, 1.0160, 1.0220, 1.0300, 1.0355, 1.0575, 1.0735, 1.0800

EURUSD D

Trading Recommendations

Sell by market, Sell Stop 0.9890. Stop Loss 1.0025. Take Profit 0.9840, 0.9800, 0.9700

Buy Stop 1.0025. Stop Loss 0.9890. Take-Profit 1.0105, 1.0160, 1.0220, 1.0300, 1.0355, 1.0575, 1.0735, 1.0800