Prepare to SELL EURUSD, Stalled at Trendline and Resistance
Daily Analysis EURUSD
USD Corrected, Impacted by China’s Interest Rate Decision
EUR strengthened as USD corrected yesterday, following China’s decision to cut their interest rates in an effort to support their troubled property sector. This raised hopes for additional stimulus that could trigger global growth.
Stalled at Trendline and Resistance
Selling opportunities can still be explored as the price is stalled in the resistance area and trendline seen on the H4 time frame. A breakthrough of support will increase the selling opportunities.
Prediction: WEAK EURUSD
Resistance
- R1 1.08462
- R2 1.07757
- R3 1.08749
- R4 1.09134
Support
- S1 1.07757
- S2 1.08462
- S3 1.07549
- S4 1.07214
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