NEWS: EUR/USD price increased 0.4%. The Euro and other major currencies are rising against the Greenback in late afternoon European trading ahead of tomorrow’s CPI inflation report in the United States.
Possible Scenarios:
If EUR/USD fails to breach through R2 of 1.13808, our Research Department expects the EUR/USD to undergo a short-term downward correction.
If EUR/USD manages to break above its R2 of 1.13808, our Research Department expects the EUR/USD to extend its gains to its R3 of 1.13997.
Support and Resistance Levels:
EUR/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.12739 |
1.12928 |
1.13116 |
1.13368 |
1.13620 |
1.13808 |
1.13997 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €88 |
(+/-) £73.42 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.13632
***GBP/USD = 1.36200
Calculations for exchange rate used as of 16:19 (GMT) 11/1/2022