EURUSD Forex Analysis for Today, Thursday(11-01-2024)
Selling Opportunity Open! EURUSD Stalled at Resistance
Daily Analysis EURUSD
US Inflation Data Awaited, Euro Strength Still Limited
Tonight, US inflation data will provide crucial clues for the market regarding the monetary policy decisions that the Fed will make next. This is causing limited strength in the euro.
Price Consolidation in the Resistance Area
EURUSD is consolidating and is in the resistance area on the H4 time frame. Still in the distribution phase, there is a possibility that prices will decline again.
Conclusion: WEAK EURUSD
Resistance
- R1 1.10200
- R2 1.09600
- R3 1.10600
- R4 1.10800
Support
- S1 1.09800
- S2 1.10200
- S3 1.09200
- S4 1.08800
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