EURUSD Forex Analysis for Today, Wednesday (31-07-2024)





EURUSD Forex Analysis for Today, Wednesday (31-07-2024)

EURUSD Forex Analysis for Today, Wednesday (31-07-2024)

Selling Opportunity for EURUSD: Still Below Down Trendline

EURUSD Analysis

German GDP Below Expectations, Market Awaits Fed

EURUSD has consolidated and tends to be under pressure as yesterday’s second-quarter German GDP data came in lower than expected. The market is inclined to await the Fed’s interest rate decision to be announced early Thursday morning.

Still Below Down Trendline

Prices are still moving below the trendline area visible on the H1 time frame. A pullback has also occurred to the resistance area that previously marked a BoS.

Prediction: WEAK EURUSD

Resistance

  • R1 1.09000
  • R2 1.08500
  • R3 1.08000
  • R4 1.07500

Support

  • S1 1.08738
  • S2 1.07882
  • S3 1.07455
  • S4 1.07045


JustMarkets

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *