EURUSD Forex Analysis for Today, Monday (08-01-2024)

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EURUSD Getting Ready to Sell Again! Bearish Pattern Detected

EURUSD Analysis – The Euro is once again testing the resistance area, followed by the appearance of a bearish harami pattern. EURUSD has the potential to decline again today, but be cautious of any pullbacks towards the resistance area.

Today’s Trading Strategy:

• SELL in the range of 1.09600-1.09900
• Target: 1.09000-1.08850

Alternatives:

• Place a BUY STOP @1.10000
• Target: 1.10200-1.10400

Resistance Levels:

• R1: 1.10000
• R2: 1.10200
• R3: 1.10200

Support Levels:

• S1: 1.09600
• S2: 1.09900
• S3: 1.09000
• S4: 1.08850

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