EURUSD Poised for BUY Again, Price Corrected to Up Trendline Area
EURUSD Analysis
Market Watches German GDP
Today, the market will closely observe Germany’s GDP data. Germany is a key indicator of the economic strength of the eurozone. Market sentiment remains balanced between the euro and USD, although there is a possibility that the European Central Bank might follow the Fed’s lead in cutting interest rates next month.
Correction to Up Trendline Area
Price has corrected to the up trendline area visible on the H1 time frame. Confirmation of a buy signal can be sought in this trendline area.
Forecast: STRONG EURUSD
Resistance Levels:
- R1: 1.11311
- R2: 1.12102
- R3: 1.12474
- R4: 1.12860
Support Levels:
- S1: 1.10000
- S2: 1.10500
- S3: 1.11000
- S4: 1.11500
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