If the dollar is under pressure this week (in the case of the conciliatory rhetoric in the text of the minutes of the September Fed meeting and in the case of the disappointing US inflation data – for more details see the Major economic events of the week of 10/10/2022 to 10/16/2022), then EUR/USD may have a chance to recover a bit after the sharpest fall by fixing some of the positions long in USD. In this case, a corrective growth from the resistance levels of 0.9905, 0.9970 is likely.
In the main scenario, we expect a further decline. The nearest target is a local low and a support level of 0.9535. Also, towards the 0.8700, 0.8600 marks.
Sell by market, Sell Stop 0.9675. Stop Loss 0.9775. Take-profit 0.9600, 0.9535, 0.9500, 0.9400, 0.9300, 0.9200, 0.9000
Buy Stop 0.9775. Stop Loss 0.9675. Take-profit 0.9800, 0.9810, 0.9900, 0.9970, 1.0195, 1.0335, 1.0510
