EURUSD Forex Analysis for Today, Friday (09-08-2024)
SELL Opportunity on EURUSD: Head and Shoulders Confirmed
EURUSD Analysis
ECB Likely to Continue Rate Cuts
An ECB official, Olli Rehn, stated that the ECB may continue with rate cuts if policymakers believe that inflation will slow down in the near future.
Head and Shoulders Pattern Confirmed
The head and shoulders pattern has been confirmed on the H1 time frame. The price has pulled back to the neckline area, which can be used to look for a sell setup.
Prediction: WEAK EURUSD
Resistance
- R1 1.10200
- R2 1.10000
- R3 1.09800
- R4 1.09600
Support
- S1 1.09488
- S2 1.08795
- S3 1.08431
- S4 1.08028
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