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4:33 PM · 19 September 2022

EURUSD: Hovers Around the Parity Level Again

Today's session is marked by the recovery of the risk-on sentiment in the markets, despite the initial drops in equities during the European session.

In the forex market, the pair EUR/USD continues to consolidate, after the strong drops registered after the publication of the CPI data in the US.


1 hour Time Frame Chart

On the 1-hour chart, we can see that the price is still sideways after the last big drop recorded.
However, it is possible to limit the movements through the chart pattern - expanding channel.
As such, the upper bound of the structure could be the next obstacle to short-term buying force and could dictate new bearish momentum if sellers manage to regain control of the price.

EUR/USD, 1 hour time frame chart. Source: xStation


EUR/USD, Daily Time Frame Chart. Source: xStation 5 


During this session, EUR is leading the gains.

Heatmap. Source: xStation 5

Henrique Tomé, XTB Portugal


 
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