EURUSD Testing Support, Monitor Potential SELL BREAKOUT
Analyze EURUSD
ECB Expected to Cut Rates Ahead of Fed
The Euro continues to be pressured by the strengthening USD. Economic data from the Eurozone is currently mixed, with recent German industrial production data showing a decline. The market remains confident that the European Central Bank will begin cutting interest rates ahead of the Fed.
Price Testing Support Area
Prices are testing the support area. Look for selling opportunities if there is a breakout below that support level.
Prediction: WEAK EURUSD
- Resistance
- R1 1.08342
- R2 1.07140
- R3 1.08693
- R4 1.09251
- Support
- S1 1.07140
- S2 1.08342
- S3 1.06845
- S4 1.06229
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