Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EUR/USD is Ready to Decline

ByAndrey Goilov
Published 28/11/2022, 13:41
Updated 15/02/2024, 08:13

On Monday, the market major is stepping back to 1.0350.
 
Investors are demanding more safe haven assets because the global situation is worsening.
 
Attention is focused, on the one hand, on the aggressive position of the US Fed in terms of interest rates. On the other hand, important macroeconomic releases are due that may give some base for revising the market viewpoint. The moods around risks are negative, which also supports interest towards the USD.
 
On Monday, the macroeconomic calendar is empty, but investors have to be prepared for a flow of data
 
On H4, EUR/USD continues forming a consolidation range around 1 0345. With an escape downwards, the wave of decline may continue to 1.0185. With an escape upwards, the price may leap up to 1.0490 and then decline to 1.0276. Technically, this scenario is confirmed by the MACD: its signal line is heading straight up, which suggests continuation of the wave of decline.
 
eurusd forecast
 
On H1, EUR/USD has formed an impulse of decline to 1.0354 and a correction to 1.0411. With a bounce off this level, the market has reached 1.0340. A consolidation range is expected to develop around this level. With an escape downwards, the wave of decline might continue to 1.0277. Technically this scenario is confirmed by the Stochastic oscillator. Its signal line is near 50. A bounce off it and further decline to 20 are expected.
 
eurusd forecast
 
Disclaimer
Any forecasts contained herein are based on the author's particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.