EUR/USD:GENERAL OVERVIEW | TECHNICAL ANALYSIS

17 sept. 2022

This is our general overview of the EUR/USD.

In the last week, we saw the EUR had a strong Pullback at 1.01978 exactly on the 61.8% Fibo level ( all attach below the analysis showing this ) and, after then the price finds a place where to start a retracement on the support area 0.99522 followed with a strong Bullish candle of Friday. Now, As you can see the price it's strong in the Bearish trend for a long time and is still under the Blue moving average the 200, there is no news or technical clues to see for a raising of the price in the short term, that's why our technical opinion still for looking new opportunities for Bearish trades. The main point where the price can have a rejection is the Resistance line at 1.0100 where the analysis can find several confluences like the presence of the Dynamic Resistance made from the Bearish channel, the Fibonacci level of 61.8%, the already talked static resistance level and eventually the 200 moving average to push the price down. Is at this point where our analysis finds the best approach for a new Push down of the price in the direction of the main trend. What do you think about it?

17 sept. 2022

Note

✅ PREVIOUS PULLBACK ✅