EURUSD Forex Analysis for Today, Thursday (18-07-2024)
Opportunity to BUY EURUSD: Still Above Up Trendline
Analysis EURUSD
Euro Reaches 18-Week High
The euro strengthened against the USD to an 18-week high as market sentiment believes that the ECB will not cut interest rates at the meeting to be held tonight. Meanwhile, the market is confident that the Fed will start a rate-cutting cycle in September.
Monitor Trendline Area
The price is still moving above the trendline area visible on the H1 time frame. Buying opportunities can still be sought in this trendline area.
Forecast: STRONG EURUSD
Resistance
- R1 1.08667
- R2 1.09721
- R3 1.10261
- R4 1.10782
Support
- S1 1.08500
- S2 1.09000
- S3 1.09500
- S4 1.10000
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