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EURUSD Forecast and Daily Trade Signal – 3-OCT-2022

Fxdatapanel03 Oct 2022Forex Forecast

EURUSD Forecast and Daily Trade Signal – 3-OCT-2022

EURUSD upwards momentum seems to fade as bulls face stiff resistance around the current market level. The intraday resistance levels at 0.9857 and 0.9915. The near-term support areas are at 0.9738 and 0.9677. Bulls have been unable to breach above the psychological level of 0.99000, which may translate into another drop in the coming days.

EUR/USD Technical Outlook

The Stochastic indicator is overbought at this time. The RSI (Relative Strength Index and Bollinger Bands (BB) are neutral. The ATR (Average True Range) indicates low volatility, while the MACD (Moving Average Convergence Divergence) is below the zero line. The current price keeps below the 20, 50, and 100 period moving averages, indicating stiff resistance areas ahead.


Bollinger Bands




Over Bought (88)

Neutral (0.9796)

0.0118 (Volatility Down)

Below Zero (-0.0076)

44 (Neutral)

Moving average indicators helps to understand the price direction and support and resistance areas. There are different moving averages, such as Simple and Exponential. The difference between these types is the sensitivity to the recent price action. The Exponential is more sensitive to the recent price action, while the Simple moving averages give equal weightage to all the prices.

EUR/USD Support and Resistance levels – Short-Term

S 1

S 2

S 3

R 1

R 2

R 3







Support and resistance indicate the potential levels from where the market can move in the opposite direction. For instance, if the EURUSD pair rises, a possible resistance area may cause the price to drop.

Related Article: Gold (XAUUSD) Daily Forecast and Trading Idea

Pivot Points

1 hour

4 hours









EUR/USD Trading Ranges

EUR/USD Daily Trading Range: 0.9784 – 0.9834
EURUSD Weekly Trading Range: 0.9784 – 0.9834
EURUSD Monthly Trading Range: 0.9784 – 0.9834
EUR/USD Yearly Trading Range: 0.9536 – 1.1495

EUR/USD Trading Idea – 3-OCT-2022

Despite last week’s recovery, the pair seems to have stiff resistance areas near the current market price, which may cause the price to decline. The pair is ideal for intraday selling entries using the following levels.


Signal Direction: Sell

Signal Timeframe: Daily


Entry: 0.9877

Stop-loss: 0.9980

Take Profit: 0.9648

Related Article: EURGBP Daily Forecast and Short-term Trading Idea

EUR/USD Upcoming Levels to Monitor

The 0.9788 is a stiff resistance area, and bulls need to reach this level to regain control. On the downside, 0.9720 is a significant intraday support level, and a breach below this level will further weaken the bulls.

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