EURUSD Continues to Show SELL Potential, Watch the Resistance Area
EURUSD Analysis
Market Focus on US NFP
The USD strengthened to a two-week high against the euro as market expectations for aggressive rate cuts by the Fed this month diminished. This week’s market focus is on a series of economic data, culminating in the US non-farm payrolls report on Friday.
Still Moving Below Down Trendline
The price continues to move below the down trendline as observed on the H1 time frame. A sell signal can be sought as long as the price consistently remains below this trendline.
Prediction: WEAK EURUSD
Resistance Levels
- R1 1.11800
- R2 1.11600
- R3 1.11400
- R4 1.11200
Support Levels
- S1 1.10977
- S2 1.10106
- S3 1.09704
- S4 1.09307
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