Home Market The Analytical Overview Of the Main Currency Pairs On 2022.11.23

The Analytical Overview Of the Main Currency Pairs On 2022.11.23


By JustMarkets

The EUR/USD currency pair

Technical indicators of the currency pairing:
  • Prev Open: 1.0041
  • Prev Close: 1.0301
  • % Chg. for the Last Day: +0.58

Officials at the ECB are still trying decide what interest rate hike should take place at their December meeting. The main discussions are between the steps of 50 and 75 bps. Analysts believe that the ECB will not increase the rate aggressively if there are any signs of inflation slowdown within the Eurozone. Therefore, they will stop at 0.5%.

Trading tips
  • Support levels: 1.0193, 1.0092, 1.0043, 0.9968
  • Resistance levels 1.0341, 1.0504

Technically, the EUR/USD currency pair’s trend is bullish on an hourly basis. The price trades at the level the moving averages and the MACD indicator has turned positive once again. For buy deals, it is best to wait for the completion of the corrective movement to the support levels of 1.0193, but with additional confirmation. Although you can sell deals at the resistance level 1.0341 in the day, confirmation is better.

Alternative scenario: if the price breaks down through the support level of 0.9993 and fixes below it, the downtrend will likely resume.

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