EURUSD Forex Analysis for Today, Friday (27-10-2023)

Bearish Bias Accompanying EURUSD Movement

EURUSD Analysis – The strengthening of the US dollar is affecting the movement of EURUSD, where EURUSD has the potential to decline towards the support area of 1.05317 – 1.05177.

Today’s Trading Strategy:

There is an opportunity to SELL EURUSD today as long as it does not break above the area of 1.05929 – 1.06100, with the potential to fall to the area of 1.05317 – 1.05177.

Alternatives:

A breakthrough of the resistance area at 1.05929 – 1.06100 has the potential to push EURUSD up to the area of 1.06860 – 1.06953.

Resistance Levels:

R1 1.06100
R2 1.06953
R3 1.07394

Support Levels:

S1 1.05177
S2 1.04757
S3 1.04428