(Report 9th November 2022) “The EUR/USD made a short-term positive break 9th November 2022 by breaking upwards through the downwards sloping resistance level at EUR/USD0.9940.”
“The EUR/USD could potentially trade stronger and test the resistance level at EUR/USD1.0350 and if breached to the upside could test EUR/USD1.0600, in our view”.
Since then, the EUR/USD has strengthened further and is currently testing its medium-term resistance level at EUR/USD1.0840, which if breached could test the next resistance level at EUR/USD1.11, in our view.