EURUSD Forex Analysis for Today, Friday (17-05-2024)

EURUSD Forex Analysis for Today, Friday (17-05-2024)

EURUSD Forex Analysis for Today, Friday (17-05-2024)

EURUSD Still in Uptrend, Monitor Support Area for Purchase

EURUSD Analysis

USD Recovery Doesn’t Heavily Influence EURUSD

The USD recovery seen yesterday didn’t heavily impact EURUSD, as the market still believes the Fed will cut interest rates no later than September. Meanwhile, the ECB’s interest rate cut plan in June hasn’t significantly affected EURUSD as the market is already prepared for it.

Monitor Support Area

EURUSD is still moving above the upward trendline in the H4 time frame. Buy opportunities can be sought if there is a correction to the support area.



  • R1 1.08305
  • R2 1.07549
  • R3 1.08534
  • R4 1.08914


  • S1 1.07596
  • S2 1.08305
  • S3 1.07237
  • S4 1.06768

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