Daily Market Analysis 24 Aug 2022

Daily Market Analysis 24 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 24 August

EUR/USD

On the daily chart, the EUR/USD is trading lower. The spot gave a sharp fall from its recent highs to up to (0.9910). It is now taking a support of its previous swing low & consolidating near that level. If price closes below (0.9910), then we can expect a good fall, otherwise, there is a higher chance for short-term reversal as well.



Technical Indicators 
Action
RSI (33)
SELL
Oscillator (8)
SELL
MACD (Below Midline)
SELL
200 EMA (1.0839)
SELL

 
Strategy


Scenario 1
Scenario 2
Action
Buy
Buy
Entry
0.9930
0.9940
Target 1
0.9960
0.9970
Target 2
0.9990
1.0000
Stop Loss
0.9900
0.9910


Key Signposts

EUR: No key data

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