EUR/USD:SELL From FIBO 61.8% Resistance Dynamic FUND.News SHORT

3 oct 2022

The EUR/USD as shown in the last ideas it's inside a strong bearish channel and in the last sessions, the price had a retracement reaching 61.8% Fibo from the previous Local swing and the 50% from the high one. Both these levels are placed on a solid resistance around 0.9850 / 0.9865 where also the presence of the Dynamic trendline by the bearish channel and the presence of the 50 moving average can be a good turn point for the price. The Stochastic shows a divergence with the overbought situation and Today will be the release of ISM Manufacturing PMI, the level of a diffusion index based on surveyed USA purchasing managers in the manufacturing industry. Actually, the Forecast is under the previous value and this can have a bad impact on the market. We are looking for a bearish continuation in the direction of the primary trend.

3 oct 2022

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