#EURUSD @ 0.99002 remains under pressure and drops below 0.9900. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• EUR/USD remains under pressure and drops below 0.9900.
• The so far 2022 low awaits at 0.9863 (September 6).

The pair currently trades last at 0.99002.

The previous day high was 1.0051 while the previous day low was 0.9955. The daily 38.2% Fib levels comes at 0.9992, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0014, expected to provide resistance.

EUR/USD deepens its weekly correction and breaches the key support at the 0.9900 mark on Wednesday.

The pair have embarked on a corrective decline and this carries the potential to extend further and revisit the 2022 low at 0.9863 (September 6). The loss of this area should put the December 2002 low at 0.9859 back on the radar prior to the October 2022 low at 0.9685.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0709.

Technical Levels: Supports and Resistances

EURUSD currently trading at 0.9912 at the time of writing. Pair opened at 0.9971 and is trading with a change of -0.59 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9992, 50 SMA 1.0096, 100 SMA @ 1.0307 and 200 SMA @ 1.0718.

The previous day high was 1.0051 while the previous day low was 0.9955. The daily 38.2% Fib levels comes at 0.9992, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0014, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.9934, 0.9897, 0.9839
• Pivot resistance is noted at 1.003, 1.0088, 1.0125

[/s2If]
Join Our Telegram Group