Get 100% free daily technical analysis, precise chart setups, and actionable insights for Forex, Metals, and Indices. Identify key support zones and target levels to make informed trading decisions every single morningβno subscriptions or paywalls required.
Price is trading in a comfort zone, below the daily balance level of 1.1464. Price is accumulating liquidity near the intermediate target for another upward impulse. A strong medium-term support level at 1.1409 remains unused. The main task for active growth is to consolidate above 1.1480. There is a chance of growth from current levels toward the strong resistance area at 1.1520.
Long-term trend: long. The maximum accumulation of volumes for the current contract is located in the range with quotes 1.15300β1.15480. Currently, investment operations on the pair are being executed below this range, which indicates weakness among buyers.
Nothing interesting happened from the perspective of price movement in the considered trading pair during the past trading day. The price continued its sluggish wandering within a range that has taken shape at the moment. False breakouts are possible in both directions in the future.
The US dollar maintains its advantage after the Fed’s September rate hike. Market participants are already pricing in the likelihood of another regulatory step in October, as inflationary pressure remains elevated. Expectations of further policy tightening keep the dollar index near a seven-week high and limit the recovery of EUR/USD.
Price is trading in the comfort zone, below the daily balance level of 1.1482. The intermediate target of the downward impulse towards the 1.1435 area has not been realized and is aiming there. A strong medium-term support level is located around 1.1409. The moment to start the model action is today.
Long-term trend: long. The maximum accumulation of volumes for the current contract is located in the range with quotes 1.15300β1.15480. Currently, investment operations on the pair are being carried out below the specified range, which indicates weakness among buyers.
The situation with the considered trading pair continues to develop according to the previously analyzed scenario. Under strong pressure, the euro sharply gave up its positions but is now trying to correct everything. It manages only to contain the dollar’s attack, but this is likely a temporary measure. In the near future, there is a high probability of further decline.
The euro begins the session without clear support after the ECB previously raised rates by 25 basis points. The decision itself has already been largely priced in, and the regulator’s recent comments indicate caution regarding further tightening, primarily due to high energy costs. For EUR/USD, this reduces the strength of the local factor in favor of the single currency.
Price is trading in the comfort zone, below the day balance level of 1.1547. Price has reached the main target of 1.1525, after which a corrective upward move is needed to further deepen the impulse. The current day balance level is an excellent entry point for selling. The trend strength indicator indicates selling at 73.3%.
Long-term trend: long. The maximum accumulation of volumes for the current contract is located in the range with quotes 1.15480β1.15640. Currently, investment operations on the pair are being carried out below this range, which indicates weakness among buyers.
