Oct 28, 2022

VOT Research Desk

After running into sellers around a bearish 100 SMA on the daily chart, the EUR/USD pair is currently trading in the 0.9960 price range.

The pair is still above the trend line that descends from this year’s high, which is currently at about 0.9920, and may soon be finishing a pullback to that level before continuing its recent positive trend.

Technical indicators are correcting lower but are still strongly in the green despite briefly flirting with overbought readings.

The 20 SMA, which is currently at a distance of about 0.9830 from the present level, has finally lost its bullish slope.

The pair’s position on the chart is currently at a bullish 20 SMA, and technical indicators have relaxed off of their high levels.

The RSI turned flat after hitting neutral levels, while the Momentum is moving south but is still over its midline.

The combination appears to be able to lose some more ground and bounce, just as in the longer time frame.

Nevertheless, bears will probably regain control of the pair if buyers fail to hold the 0.9900/20 price region.

Oct 24, 2022

VOT Research Desk

Above the 0.9850 barrier, the EUR/USD is correcting upward. On the 4-hours chart, it broke over a significant negative trend line with resistance around 0.9835.By looking at the chart, we can see that the pair has consolidated above the 0.9800 level, the 100 simple moving averages and the 200 simple moving average.

On the same chart, there was also a break over a significant negative trend line with resistance at 0.9835.

The pair even passed through the 50% Fib retracement level of the decline from the 0.9631 low to the 0.9999 swing high.

Above the 0.9850 barrier, the EUR/USD is correcting upward.

On the 4-hours chart, it broke over a significant negative trend line with resistance around 0.9835.

The area near 1.0000 can serve as the next significant upward resistance. Any more gains may accelerate a move in the direction of the 1.0080 level. The pair may challenge the 0.9750 support if there is a downward correction. The area around 0.9720 is the next significant support.

The 0.9650 level may be approached by EUR/USD if the fall breaks below the 0.9720 support. Any more advances may push the pair closer to 0.9600.