Check EURUSD BUY Opportunity, Price Resumes Uptrend
EURUSD Analysis
Powell’s Speech Reaffirms Likelihood of Rate Cut
Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium has reinforced the possibility of a rate cut by the Fed in September. According to the CME FedWatch Tool, only 28% of market participants expect a 50 basis point rate cut by the Fed, while 72% anticipate a cut of only 25 basis points.
Resuming Uptrend
The price has resumed its uptrend for intraday bias, marked by the uptrend line visible on the H1 time frame. A confirmation buy signal can be sought in the trendline area.
Forecast: STRONG EURUSD
Resistance Levels:
- R1: 1.10901
- R2: 1.11715
- R3: 1.12171
- R4: 1.12620
Support Levels:
- S1: 1.10000
- S2: 1.10200
- S3: 1.10400
- S4: 1.10600
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