EURUSD Forex Analysis for Today, Tuesday (07-05-2024)
SELL Opportunity: EURUSD Still Held by Trendline
EURUSD Analysis
ECB May Cut 75 Bps
The latest statement from the European Central Bank suggests that ECB may begin a rate-cutting cycle in June, sparking speculation that ECB could cut rates three times (or 75 basis points) by the end of this year.
Held by Trendline and Resistance
Prices are held in the trendline resistance area. Selling opportunities can be sought again in this trendline and resistance area.
Prediction: WEAK EURUSD
Resistance Levels
- R1: 1.08342
- R2: 1.07905
- R3: 1.08578
- R4: 1.08820
Support Levels
- S1: 1.07905
- S2: 1.08342
- S3: 1.07752
- S4: 1.07506
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