EURUSD Forex Analysis for Today, Monday (16-10-2023)

EURUSD Forex Analysis for Today, Monday (16-10-2023)

EURUSD Analysis: Correction, Bearish Sentiment Looms

EURUSD Analysis – The recovery of the US dollar is influencing the movement of EURUSD. Currently, EURUSD has the potential to decline towards the support area.

Today’s Trading Strategy:

There is a possibility to SELL EURUSD today as long as it does not break above the range of 1.05771 – 1.05900, with the potential to drop to the area of 1.04999 – 1.04757.


A breakthrough above the resistance area of 1.05771 – 1.05900 has the potential to push EURUSD up to the area of 1.06282 – 1.06401.

Resistance Levels

  • R1: 1.05900
  • R2: 1.06401
  • R3: 1.06774

Support Levels

  • S1: 1.04757
  • S2: 1.04428
  • S3: 1.03987
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