EUR/USD Price Analysis: A deeper correction could revisit 0.9631

Market news

19 October 2022

EUR/USD Price Analysis: A deeper correction could revisit 0.9631

EUR/USD fades the recent advance and breaks below 0.9800.
The October low near 0.9630 comes next on the downside.

EUR/USD reverses the uptick to the 0.9870/80 band and comes under pressure below the 0.9800 support on Wednesday.

The inability of the pair to surpass the area of weekly highs near 0.9880 in the very near term could lure extra selling pressure in and pave the way for a probable test of the October low at 0.9631 (October 13).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0553.

EUR/USD daily chart

Currencies. Daily history for Wednesday, October 19, 2022

Commodities. Daily history for Tuesday, October 18, 2022

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.