EUR/USD Technical Analysis
FxNews—The EUR/USD currency pair stabilizes above the 100-period simple moving average and the 1.084 immediate support level. This occurs as Stochastic records show a reading of 82, indicating that the Euro is overpriced in the short term. Additionally, the Awesome Oscillator histogram is red, suggesting that the bear market is strengthening.
Forecast
From a technical perspective, the bullish outlook remains valid as long as the price holds above the 1.085 support level. In this scenario, the next target could be the 38.2% Fibonacci retracement level at 1.093.
Please note that the bullish outlook should be considered invalid if the price dips below 1.084.
Forecast
From a technical perspective, the bullish outlook remains valid as long as the price holds above the 1.085 support level. In this scenario, the next target could be the 38.2% Fibonacci retracement level at 1.093.
Please note that the bullish outlook should be considered invalid if the price dips below 1.084.
Комментарий
The EUR/USD price failed to hold above the 100-period simple moving average. As a result, the price dipped, closing below the $1.084 immediate support.
The AO histogram is red, and RSI 14 flipped below the median line. Concurrently, the Stochastic Oscillator stepped below the oversold area, suggesting the bear market is strengthening.
Immediate resistance is at the November 1 high, the 1.09 mark. With this level intact, the EUR/USD downtrend will likely resume, and the next bearish target could be revisiting October's all-time low, $1.076.
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