Wednesday, February 21, 2024

EUR/USD Daily Analysis and Trading Tips for 25 Oct 2022

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EUR/USD

Support / Resistance: 0.9810 - 0.9900

Today, important data on the Eurozone is expected at 4:00 AM ET ECB Bank Lending Survey, as well as data on the German economy at the same time, such as IFO - Business Climate(Oct), IFO - Current Assessment(Oct) and IFO - Expectations(Oct ). Among the US data, the ones that may matter for the currency market are Consumer Confidence(Oct) at 10:00 AM ET.
The strategy today is to open short positions. We expect EURUSD to return to levels close to 0.9800.
A break of 0.9898 could mean a move towards parity in the coming days.

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