Technical Analysis – EURUSD on course to reach channel’s bottom

EURUSD plummeted to a new twenty-year low of 0.9547 early on Monday after its most devastating week since the pandemic, with the focus now shifting to the bottom of the 2022 bearish channel at 0.9480.

The price managed to recoup some losses and return above the 0.9600 level over the past couple of hours, as the RSI and the stochastics hinted at oversold conditions. Although some recovery would not be surprising after an ugly sell-off, the technical indicators haven’t exited the bearish area yet, making additional losses possible in the short term.

If the bears worsen the outlook below the channel, the price may initially get congested somewhere between 0.9400 and 0.9335, taken from June 2002. Slightly lower, the 0.9270 area was a tough barrier to upside movements in September 2001, and it overlaps with the extension of the tentative descending line from October 2019. Therefore, it may attract special attention ahead of the 0.9190  handle.

On the upside, the 0.9709 level came to limit bullish pressures today, but above that, there is a more challenging territory at 0.9830 – 0.9850, which the bulls need to claim first before they revisit the 20-day SMA at 0.9940. Reaching parity will be the next target, while higher, buyers will be eagerly looking for a decisive break above the 50-day SMA and the channel at 1.0067 to stage an exciting rally towards September’s high of 1.0197.

All in all, the negative trend in EURUSD remains constant and irreversible for now, bringing the channel’s lower boundary at 0.9480 next on the radar.  


Technical Analysis – Is Facebook preparing for a bullish reversal?

Technical Analysis – JP225 consolidates above the 100-day SMA

Daily Market Comment – Stocks lose altitude, dollar reawakens after solid US data

Technical Analysis – GBPUSD declines from 5-month high, but outlook is still bullish

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。