Daily Market Analysis 24.10.2022: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 0.98445 with take profit at  0.98581
Bearish Preference: 
Sell position is envisaged if price trades below 0.98042 with take profit at 0.97921
2:45pm     USD Flash Services PMI

European stock markets traded in a mixed fashion Monday, with investors weighing up further central bank tightening ahead of the likely announcement of a new U.K. political leader as well as quarterly results from Europe’s top investment banks. Economic data released earlier Monday showed that the important German manufacturing sector has retreated further into contraction territory, with the country’s manufacturing PMI falling to 45.7 in October, from 47.8 the previous month.

Analysis: SCRUM Team

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