Wednesday, February 21, 2024

EUR/USD Daily Analysis and Trading Tips for 19 Oct 2022

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EUR/USD

Support / Resistance: 0.9810 - 0.9875

Euro-Dollar began a correction in the Asian session after consolidating at the levels of 0.9820-0.9870 in the last day. For now, resistance at 0.9875 remains high and we expect the downward correction trend to continue.
Today's highlights include The Euro Zone HICP at 5:00 AM ET, US Building Permits and Housing Starts at 8:30 AM ET.
Forex-Strategy expects the correction of EUR/USD to reach the levels below 0.9800. A break above 0.9875 would signal the end of the consolidation and a continued upward move towards 0.9925.

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