EURUSD Forex Analysis for Today, Thursday (22-08-2024)
Check BUY Opportunities for EURUSD! Price Corrects to UP TRENDLINE!
EURUSD Analysis
Fed Rate Cut Almost Certain
The USD continued to weaken after the FOMC minutes showed that the majority of policymakers at the FOMC are confident that the Fed will soon implement a rate cut. This week, market attention will be focused on the statement by Fed Chair Jerome Powell at the Jackson Hole symposium tomorrow.
Correction to Trendline Area
The price corrected to the uptrend line seen on the H1 time frame. Confirmation of a buy signal can be sought in that trendline area.
Forecast: STRONG EURUSD
Resistance Levels:
- R1: 1.10916
- R2: 1.11655
- R3: 1.12013
- R4: 1.12372
Support Levels:
- S1: 1.09600
- S2: 1.09800
- S3: 1.10000
- S4: 1.10200
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