EURUSD Still Has SELL Potential, Monitor Resistance Area
EURUSD Analysis
Market Focus Shifts to US PCE
The market’s focus today shifts to the Core PCE Price Index data to gain inflation insights that could influence the Fed’s decision. Previously, the U.S. economic growth data for Q2 QoQ increased from 1.4% to 3%, while the weekly jobless claims decreased from 233,000 to 231,000.
Support Turns Into Resistance
The price continues to decline, breaking through the support area, which has now become resistance. A sell signal can be sought if a pullback to this resistance area occurs.
Prediction: WEAK EURUSD
Resistance Levels
- R1 1.12000
- R2 1.11800
- R3 1.11600
- R4 1.11400
Support Levels
- S1 1.11468
- S2 1.10648
- S3 1.10249
- S4 1.09824
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