empty
14.09.2022 07:29 PM
Technical analysis of EUR/USD for September 14, 2022

This image is no longer relevant

Overview :

The EUR/USD pair stayed below the psychological level of 1.0078 over the week, indicating a lack of urgency to accumulate at the current levels. The bears are attempting to extend EUR/USD pair's decline below 0.9957 to bottomed at 1 USD right now.

The EUR/USD pair remains downside for consolidation below 1.0078 temporary low. Downside of recovery should be limited by 0.9957 support turned resistance to bring another fall.

The Euro pair depreciated further to 1 USD, the lowest level in this week, falling towards parity against the dollar on concerns the energy crisis would lead Europe's region to a deep recession, placing the ECB between a rock and a hard place as it tries to curb inflation and rest a slowing economy. The EUR/USD pair decreased within adown channel.

It then trimmed losses, dropping to 0.9957. The move lower took place amid a stronger US dollar across the board. Probably, the main scenario is continued decline towards 0.9800 (sentiment level). Some fundamental news will impact on the EUR/USD pair in coming days because The euro has a flexible exchange rate, which is dependent on three factors : The European Central Bank's benchmark interest rate. Additionally, the debt levels of individual countries within the EU. Moreover, the strength of the European economy.

Closing below the pivot point (1.0078) could assure that the EUR/USD pair will move lower towards cooling new lows. Then, the bears must break through the price of 1 USD n order to resume the downtrend.

The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Hence, the price spot of 1.0078 remains a significant resistance zone.

Also it should notice that the Euro is edging lower against the U.S. Dollar late in the session this morning in a volatile session that saw the single currency posting an early loss before continuing after data in the U.S. showed the world's largest economy created more jobs than expected this month.

Since the trend is below the 50% Fibonacci level (1.0078), the market is still in a downtrend. Overall, we still prefer the bearish scenario. Consequently, there is a possibility that the EUR/USD pair will move downside. The structure of a fall does not look corrective.

If the pair fails to pass through the level of 0.9957, the market will indicate a bearish opportunity below the strong resistance level of 1.0078.

The trend is still calling for a strong bearish market from the spot of 1.0078. Sellers are asking for a high price. In this regard, sell deals are recommended lower than the 1.0078 level with the first target at 0.9957.

It is possible that the pair will carry on downwards continuing the development of the bearish trend to the level 0.9878.

However, stop loss has always been in consideration thus it will be useful to set it above the last double top at the level of 1.0198 (notice that the major resistance today has set at 1.0198). Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD. July 4th. Bears continue to retreat from the market

On Thursday, the EUR/USD pair rebounded once again from the 1.1802 level and declined almost to the 127.2% Fibonacci retracement level at 1.1712. As of Friday morning, the pair

Samir Klishi 10:53 2025-07-04 UTC+2

Forex forecast 04/07/2025: EUR/USD, GBP/USD, USD/JPY, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:51 2025-07-04 UTC+2

GBP/USD. July 4th. Independence Day

On the hourly chart, the GBP/USD pair on Thursday rebounded from the support zone of 1.3611–1.3633, reversed in favor of the pound, and now has every chance to continue rising

Samir Klishi 10:01 2025-07-04 UTC+2

EUR/USD Forecast for July 4, 2025

The main event of yesterday largely aligned with our forecasts — specifically, the anticipated "number play" occurred. But it was done very delicately, just enough to halt the growth

Laurie Bailey 06:01 2025-07-04 UTC+2

GBP/USD Forecast for July 4, 2025

On the daily chart, the British pound has consolidated below the MACD line. It had an excellent opportunity to also consolidate below the support level of 1.3635, but that attempt

Laurie Bailey 05:58 2025-07-04 UTC+2

Natural Gas Forecast for July 4, 2025

Natural Gas (NG) The daily balance indicator line decisively halted yesterday's price surge — Thursday ended with a decline of 2.63%. The drop, in turn, was held back

Laurie Bailey 05:53 2025-07-04 UTC+2

Trading Signals for BITCOIN for July 4-8, 2025: sell below $110,610 (7/8 Murray - 21 SMA)

On the other hand, if Bitcoin consolidates above the 7/8 Murray level, it is likely that it will reach the strong resistance of the 8/8 Murray level located at $112,500

Dimitrios Zappas 05:17 2025-07-04 UTC+2

Trading Signals for GOLD (XAU/USD) for July 4-8, 2025: sell below $3,350 (21 SMA - 3/8 Murray)

If gold recovers above the 200 EMA at 3,327, we could expect a pullback to 3,345. This area represents strong resistance and could be seen as a selling opportunity

Dimitrios Zappas 05:15 2025-07-04 UTC+2

Trading Signals for EUR/USD for July 4-8, 2025: sell below 1.1795 (21 SMA - 8/8 Murray)

The eagle indicator has been giving a negative signal since June 30, so our strategy will remain bearish. As long as the euro price trades below 1.1795, we continue

Dimitrios Zappas 05:13 2025-07-04 UTC+2

EUR/USD. July 3rd. The Most Important Day of the Week

On Wednesday, the EUR/USD pair rebounded from the 1.1802 level, reversed in favor of the U.S. dollar, and showed a slight decline. However, by Thursday morning, the pair had returned

Samir Klishi 12:10 2025-07-03 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.