Daily Market Analysis 18 Aug 2022

Daily Market Analysis 18 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 18 August

EUR/USD

Technical Outlook

On the daily chart, the EUR/USD looks bearish. The spot gave a breakdown of a bearish “Flag & Pole” pattern, indicating selling pressure. But haven’t been able to break its previous swing low. If price starts to go below 1.0122, then we can expect more selling pressure of up to 1.0045.



Technical Indicators 
Action
RSI (45)
SELL
Oscillator (20)
SELL
MACD (Below Midline)
SELL
200 EMA (1.086)
SELL


Strategy


Scenario 1
Scenario 2
Action
Sell
Sell
Entry
1.0160
1.0150
Target 1
1.0130
1.0120
Target 2
1.0100
1.0090
Stop Loss
1.0190
1.0180 


Key Signposts

EUR: Inflation data

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