EURUSD Forex Analysis for Today, Friday (07-06-2024)

EURUSD Forex Analysis for Today, Friday (07-06-2024)

EURUSD Forex Analysis for Today, Friday (07-06-2024)

Seek BUY Opportunities in EURUSD, Still Moving Above Trendline

Analysis of EURUSD

Market Focus Shifts to US NFP

The 25 basis point rate cut by the ECB yesterday did not significantly impact EURUSD as the market had long anticipated it. Today’s market focus shifts to the release of the US non-farm payrolls data.

Look for Buy Opportunities in the Trendline Area

Prices are still moving above the upward trendline visible on the H1 time frame. Buying opportunities can be sought again if there is a correction to the trendline area or the support near the trendline.


Resistance Levels

  • R1 1.08669
  • R2 1.08512
  • R3 1.08802
  • R4 1.08895

Support Levels

  • S1 1.08512
  • S2 1.08669
  • S3 1.08399
  • S4 1.08284

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