Could EUR/USD Eventually Reach The 1.0200 Level?

2022.10.27 03:55

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beat strong resistance at 9920/40 for a buy signal. The break above the October high at 9999 confirms the buy signal targeting 1.0050 and 1.0100/20. As I write we held just 7 pips from here.

finally made a move through strong resistance at 6380/6400 to target 6455/65, perhaps as far as resistance at the October high at 6540/50 today.

finally made a break above 5800 for a buy signal targeting 5845/55 (a high for the day exactly here in fact), perhaps as far as 5890/5910 today.

Today’s Analysis

EUR/USD break above the October high at 9999 confirmed the first buy signal targeting 1.0050 and just 7 pips from my next target of 1.0100/20. Eventually we could even reach 1.0180/1.0200.

Downside should be limited with first support at 1.0000/9980. Longs need stops below 9960. Strong support at 9930/10, although I would be very surprised if we saw this level again for a while.

AUD/USD beat 6415 to target 6455/65, perhaps as far as resistance at the October high at 6540/50 today for profit taking on longs. Watch for a high for the day.

Downside should be limited after the breakout with minor support at 6445/30 & better support at 6400/6390.

NZD/USD longs on the break above 5800 are working as we hit 5845/55 (with a high for the day exactly here yesterday), perhaps as far as 5890/5910 today. Eventually we can reach 5980.

First support at 5790/70 of course. Longs need stops below 5750.

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