EUR/USD Daily Chart Analysis For Week of November 18, 2022
Technical Analysis and Outlook:
Following the strong Eurodollar rebound the previous week, the currency
completed our designated target of the Inner Currency Rally 1.038 this week, as specified on the EUR/USD Daily Chart Analysis For November 11 chart. Since completing the target, the Eurodollar is in retreat mode to Mean Sup 1.0285, potentially followed to a completed Inner Currency Rally of 1.038 retests one more time.
The prevailing down move is prone to pull back to our additional Mean Sup 1.014, 1.000, and 0.975. The down-trend projects for the Next Outer Currency Dip of 0.937 for the foreseeable future is being reignited.
Following the strong Eurodollar rebound the previous week, the currency
completed our designated target of the Inner Currency Rally 1.038 this week, as specified on the EUR/USD Daily Chart Analysis For November 11 chart. Since completing the target, the Eurodollar is in retreat mode to Mean Sup 1.0285, potentially followed to a completed Inner Currency Rally of 1.038 retests one more time.
The prevailing down move is prone to pull back to our additional Mean Sup 1.014, 1.000, and 0.975. The down-trend projects for the Next Outer Currency Dip of 0.937 for the foreseeable future is being reignited.