top of page

Title: EUR/USD Price Analysis: Pokes 21-DMA hurdle around 0.9800

  • Writer: analysiswatch
    analysiswatch
  • Oct 14, 2022
  • 1 min read

October 14, 2022 02:56 AM ET


By: AnalysisWatch


EUR/USD is flirting with the 21-DMA hurdle around the 0.9800 threshold as buyers struggle to defend upside momentum amid sluggish oscillators. The RSI (14) and MACD are also questioning the recent upward movement of the major currency pair.


Therefore, the upside break of the 21-DMA hurdle at 0.9800 is not a strong signal for the bulls. However, a rise towards the downward resistance line from late June around 1.02 cannot be ruled out.


On the advances, the monthly high around the parity level and the September high of 1.0198 could serve as buffers.


Alternatively, a three-week horizontal support area at 0.9670-65 limits short-term EUR/USD declines ahead of the recent swing low at 0.9630.


In the event that the price remains bearish beyond 0.9630, the yearly low at 0.9535 could act as a last defense for buyers, the break of which could steer bears towards the September 2001 high at 0.6335.


Overall, EUR/USD remains in recovery mode, but the trend reversal is far from being achieved.

Comments


2b94f773-a237-4da7-a599-6b42314ed9e6.png

Risk Disclosure: AnalysisWatch will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
AnalysisWatch would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore AnalysisWatch doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

bottom of page