Euro/USD is heading for the 1.0500 level this week after the majority of economic reports came in sync with the market consensus. The shared currency attracted decent buying the other day and gained 0.76% against the US dollar to close above the 1.0400 level. According to the official data reported by the Federal Statistics Office of Germany, the adjusted unemployment rate remained at 3.0% in October 2022. The Euro Zone Harmonized Index of Consumer Prices (HICP) came at 10% which indicates that inflationary pressures have started to cool, which is bullish for Euro.
Important Pivots
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 1.0310 | 1.0353 | 1.0378 | 1.0421 | 1.0446 | 1.0489 | 1.0514 |
| Fibonacci | 1.0353 | 1.0379 | 1.0395 | 1.0421 | 1.0447 | 1.0463 | 1.0489 |
| Camarilla | 1.0385 | 1.0392 | 1.0398 | 1.0421 | 1.0410 | 1.0416 | 1.0423 |
| Woodie’s | 1.0302 | 1.0349 | 1.0370 | 1.0417 | 1.0438 | 1.0485 | 1.0506 |
| DeMark’s | – | – | 1.0366 | 1.0415 | 1.0434 | – | – |
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