EURUSD Forex Analysis for Today, Friday (16-08-2024)
BUY Opportunity for EURUSD: Held at Trendline Area!
EURUSD Analysis
Eurozone GDP Meets Expectations
The Euro experienced a pullback following stronger-than-expected US retail sales data, but an improved Eurozone GDP for the second quarter YoY rise is currently preventing further declines.
Correction to Trendline Area
A correction has occurred toward the trendline visible on the H1 time frame. Confirmation of a buy signal can be sought in this trendline area.
Forecast: STRONG EURUSD
Resistance Levels:
- R1: 1.09087
- R2: 1.10052
- R3: 1.10550
- R4: 1.11066
Support Levels:
- S1: 1.08500
- S2: 1.09000
- S3: 1.09500
- S4: 1.10000
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