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Forex Analysis & Reviews: October 7, 2022 : EUR/USD daily technical review and trading opportunities.
time 07.10.2022 01:06 PM
time Relevance up to, 08.10.2022 01:06 PM

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Price levels around 1.1700 has been holding prices for a short period of time before another price decline took place towards 1.1200.

Shortly after, the price zone around 1.1500 has applied significant SELLING pressure when a valid SELL Entry was offered upon the previous ascending movement towards it.

Since then, the EUR/USD pair has been moving downwards reaching the price levels of 1.0850, 1.0400, 1.0000 and recently 0.9600.

The market remains under Selling pressure unless a strong upside movement manages to break above 1.0250.

In the mean time, any ascending movement towards 1.0250 should be watched for selling pressure where a new downside movement can be established.

Mohamed Samy,
Analytical expert of InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
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