Jump to content

Euro Price Forecast: Parity Back on the Cards for EUR/USD

Recommended Posts

Euro Price Forecast: Parity Back on the Cards for EUR/USD

Aug 22, 2022 | DailyFX
Warren Venketas, Analyst


  • USD dominance looks to continue ahead of Jackson Hole.
  • Euro downside risk stems from both U.S. and EZ factors.



eurusd daily chart

Chart prepared by Warren Venketas, IG

Price action on the daily EUR/USD chart above has bears knocking at the 1.0000 support zone for the second time in this year as the pair approaches oversold territory on the Relative Strength Index (RSI). While there is still room to head into oversold territory, I think a break below parity is definitely a possibility.

Resistance levels:

  • 1.0210
  • 20-day EMA (purple)
  • 1.0064 (76.4% Fibonacci)

Support levels:

  • 1.0000
  • 0.9854 (December 2002 swing low)
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 27/09/22 00:23
  • Posts

    • Stock Market SP 500, NASDAQ 100 NDX, Russell 2000 RUT. Dow Jones Industrial (DJI) Elliott Wave Technical Analysis and Trading Strategies. US Markets News Today:Fed officials stare down market volatility, say inflation remains paramount focus Elliott Wave Market Summary: The current trend down into Wave (1) is not completed, that said the US Indices are in a series of Elliott Wave fours, which tend to move sideways. Elliott Wave count: Wave iii) of 3 of (1) of C) Day / Trend Trading Strategies: Short Rallies and new lows...Keep a wide stop away from the  Wave fours iv) and 4 as the market has a high probability of moving lower over time Video Chapters 00:00 S&P500  11:47 NASDAQ 100 (NDX) 13:17 Russell 2000 (RUT)  18:19 Dow Jones Industrial Average 20:19 End. Thanks for supporting! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
    • We can see that for every new low it is a small upturn (4-6% before a new low is about to happen, together with the inverted hammer that was formed today im going long, +5% and if the price start to go to an uptrend there after its a sell signal that follows the factors mentioned abow to the "new" support line 1703 points. 
  • Create New...