RLinda ! EURUSD-> What to expect next? Continue to fall?

29 Eyl 2022

The dollar index rose to a 20-year high at the start of Wednesday's European trading session as Federal Reserve statements and rising Treasury bond yields sparked fresh recession fears
The U.S. Federal Reserve has signaled that fighting rising inflation is its most important mission, and it will continue to raise interest rates significantly even if it might push the economy into recession.

From a technical analysis point of view, we see the price continuing to move in a bearish channel. A renewal of the global lows and the formation of a pullback on the retest. Then we should pay attention to how the price will react to such zones, as the level of 0.96221 and the bottom border of the price channel.

I assume that if the price fixes above the support, we might see a slight recovery. But there is a great chance that the price will continue its fall. On the chart below there is an important zone, the support that was formed 21 years ago - 0.91991.

Regards R.Linda!