EURUSD Forex Analysis for Today, Tuesday(21-05-2024)
Still in UPTREND, Buy EURUSD If It Breaks Resistance
EURUSD Analysis
Market Awaits Fed Officials’ Comments
The market is still waiting for comments from Fed officials to get clues about when the Fed will start cutting interest rates. Signs of slowing inflation are still evident from US economic data.
Monitor Resistance Area
EURUSD is still moving above the rising trendline on the H4 time frame. Buying opportunities will increase if there is a break above the resistance.
Forecast: STRONG EURUSD
Resistance Levels:
- R1 1.08342
- R2 1.08024
- R3 1.08535
- R4 1.08709
Support Levels:
- S1 1.08024
- S2 1.08374
- S3 1.07769
- S4 1.07555
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