Saturday, June 15, 2024

EUR/USD Daily Analysis and Trading Tips for 31 Oct 2022

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EUR/USD

Support / Resistance: 0.9890 - 0.9975

Among the important data today, focus on Gross Domestic Product for the Eurozone from 7:00 AM ET. Growth is expected to fall to 2.1% from the previous year's 4.1%, but a bigger decline is possible.
At the same time, there is other important information HICP-X F,E,A,T (The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco).
The strategy today is for a partial consolidation of the current levels around 0.9950, but if there is an opportunity for 0.9970 we will open short positions as the growth of the Euro is over and we rather expect a move below 0.9900.

Benefit from our accurate signals always with one SL and TP levels.

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