EURUSD Forex Analysis for Today – Thursday (08-02-2024)
Resistance Holds, Prepare to SELL EURUSD
Daily Analysis EURUSD
USD Moves Sideways, Market Awaits Economic Data
The dollar index is moving sideways. Statements from Fed officials, considered less dovish, have market participants waiting for the latest economic data. The market is also paying attention to the deflation threat looming over China.
Wait for Breakout Support
It appears that the price is held at the resistance area on the H1 time frame. The movement tends to be sideways. A breakthrough of support will increase the chances of selling.
Prediction: WEAK EURUSD
Resistance
- R1 1.08034
- R2 1.07524
- R3 1.08274
- R4 1.08616
Support
- S1 1.07524
- S2 1.08034
- S3 1.07301
- S4 1.06970
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