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Forex Analysis & Reviews: EUR/USD's upside could be over
time 30.09.2022 04:25 PM
time Relevance up to, 01.10.2022 04:25 PM

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EUR/USD Deeper Drop Needs Confirmation!

The EUR/USD pair increased as much as 0.9835 today where it has found a strong supply. Now, it has dropped below the uptrend line which represented a downside obstacle. It has increased a little in the short term after reaching the 0.9745 level which stands as a downside obstacle as well.

As long as it stays above this level, EUR/USD could try to come back to test and retest the broken uptrend line and 0.9835.

EUR/USD Outlook!

Dropping and stabilizing below 0.9745 could activate a deeper drop. On the other hand, staying above this key level and making a new higher high, jumping above the 0.9835 upside obstacle validates further growth.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2022
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