If the dollar is under pressure today after the publication of inflation data in the United States (for more information, see in “The most important economic events of the week 12.09.2022 – 18.09.2022”), then EUR/USD will receive a new impetus for further growth.
In case of successful development of a positive scenario for EUR/USD, the breakdown of yesterday’s local maximum of 1.0198 will be a confirmation signal for building up long positions with targets near the upper limit of the descending channel on the weekly chart and the 1.0355 mark.
In the main scenario, we expect a resumption of decline. The breakdown of the important short–term support level of 1.0087 will be a signal for the resumption of short positions, and the 0.9900 mark will be the first target of decline (for more information, see -> “EUR/USD: technical analysis and trading recommendations for 13.09.2022”)
Support levels: 1.0150, 1.0087, 1.0030, 1.0000, 0.9900, 0.9865, 0.9800
Resistance levels: 1.0198, 1.0220, 1.0300, 1.0355, 1.0500, 1.0660, 1.0750
*) see also -> “Technical analysis and trading recommendations” -> Telegram
**) signal -> Insta79