EURUSD Forex Analysis for Today, Friday(24-05-2024)

EURUSD Forex Analysis for Today, Friday(24-05-2024)

EURUSD Forex Analysis for Today, Friday(24-05-2024)

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Seeking SELL Opportunities in EURUSD: Still Moving Below Trendline

EURUSD Analysis

USD Strength Continues to Press EURUSD

The USD strengthened overnight after US S&P Global Composite PMI data rose to 54.4 in May, exceeding the 51.3 recorded in April. This is the highest figure since April 2022. This data raises expectations that the Fed will keep interest rates high for longer.

Sell Opportunities if Support is Broken

Prices are seen testing the support area. Sell opportunities can be sought if there is a breakthrough below this support area.

Forecast: WEAK EURUSD

Resistance Levels:

  • R1 1.08739
  • R2 1.08536
  • R3 1.08946
  • R4 1.09082

Support Levels:

  • S1 1.07994
  • S2 1.08255
  • S3 1.07835
  • S4 1.07692
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Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.


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