EURUSD Forex Analysis for Today, Monday (15-01-2024)
Potential to Sell EURUSD! There’s a Triangle
Daily Analysis EURUSD
US PPI Data Triggers USD Correction
USD correction occurred after the unexpected weakness in US PPI data for December 2023, raising speculation of Fed interest rate cuts. However, the correction is only temporary.
Potential Ascending Triangle, Price at the Lower Line
EURUSD is held in the lower line area of the potential ascending triangle pattern on the H4 time frame. Selling opportunities will arise if there is a breakthrough in support.
Conclusion: Weak EURUSD
Resistance
- R1 1.10000
- R2 1.09200
- R3 1.10300
- R4 1.10600
Support
- S1 1.09200
- S2 1.10000
- S3 1.08800
- S4 1.08700
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