Daily Market Analysis 29 Aug 2022

Daily Market Analysis 29 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 29 August

EUR/USD

On the daily chart, the EUR/USD edges lower on Monday. The spot remained pressured towards 0.9900. If it moved below the mentioned level, the pair could be heading toward a fresh two-decade low in the coming few sessions. The stronger U.S. dollar led the losses in the spot. We recommend short positions with strict stop loss.


Technical Indicators
Action
RSI (31)
SELL
Oscillator (3)
SELL
MACD (Below Midline)
SELL
200 EMA (1.0730)
SELL

 
Strategy


Scenario 1
Scenario 2
Action
Sell
Sell
Entry
0.9930
0.9920
Target 1
0.9900
0.9890
Target 2
0.9870
0.9860
Stop Loss
0.9960
0.9950


Key Signposts

EUR: No key data

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