Bearish Outlook Persists for EUR/USD as Resistance Holds

Assessing China's Economic Challenges: A Closer Look Beyond the Japanification Hypothesis"

Technical Market Outlook:

The EUR/USD pair has been seen bouncing from the local low made at the level of 1.0675 and so far the high of the bounce was made at the level of 1.0732. The intraday technical resistance is seen at 1.0780, so bulls need to break out above this level in order to continue higher.

Any breakout below the level of 1.0675 would sustain the bearish outlook and put the level of 1.0636 for a test (swing low).

The weak and negative momentum supports the short-term bearish outlook for EUR as the bulls are not able to move above the neutral level of fifty on the RSI indicator.



Weekly Pivot Points:

WR3 - 1.07335

WR2 - 1.07121

WR1 - 1.06983

Weekly Pivot - 1.06907

WS1 - 1.06769

WS2 - 1.06693

WS3 - 1.06479


Trading Outlook:

Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle might had been terminated at the level of 1.2080 which is 61% Fibonacci retracement level. The EUR had made a new multi-decade low at the level of 0.9538, so as long as the USD is being bought all across the board, the down trend will continue towards the new lows.


Assessing China's Economic Challenges: A Closer Look Beyond the Japanification Hypothesis"

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand, regulated by CySec with license number 266/15.

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. offers access to around 2,500 instruments (CFDs in Stocks, ETFs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at:

Follow on:

Twitter Facebook YouTube


Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.82%. of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.