This Week USD May Be Fluctuating! Euro To US Dollar - Technical Analysis And More - 10/10/22

Steen Jakobsen: ECB strategy is praying, hoping and waiting... not exactly action which gives hope for real economy

In the intermediate-term, the pair is just above the newly visited price levels around 0.9600 that haven't been visited since 2002. That's why, some bullish recovery was recently demonstrated especially around such an important psychological support. The nearest supply level was located around 1.0200 where bearish rejection and a short-term SELL Entry were anticipated. Hence, another bearish pullback to test the price levels of 0.9500 was recently executed. Intensive bullish price action was demonstrated around these price levels (the lower limit of the current movement channel). Initial bullish target around 1.0100 is about to be achieved. On the other hand, any quick bearish pullback towards the price levels of 0.9520 should be considered as a valid BUY opportunity.

Relevance up to 18:00 2022-10-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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Steen Jakobsen: ECB strategy is praying, hoping and waiting... not exactly action which gives hope for real economy

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