ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD May Limit Its Rebound
Last week, the euro was set to recover as the European Central Bank (ECB) made an aggressive interest rate increase of 75 basis points for the first time in its history at the critical September meeting. Concerns about the recession in the Eurozone and the prospects that the ongoing energy crisis will put pressure on it, however, do not allow the euro to take its weight off. As a matter of fact, despite the moderation in the dollar, the strong stance of it also has an effect. When examined technically, we see that the upper boundary line of the intermediate channel is defended as resistance. If the critical 1.0110 level can be broken in relaxations, losses can last up to 1.0030 support, which is indicated by the Fibonacci %50.0 correction line after 1.0070, with the termination of the minor level wedge formation. In a possible transition over the channel with persistence, there may be a resistance of 1.0200 followed by resistance of 1.0255.
