EURUSD Forex Analysis for Today, Monday (22-01-2024)
Potential Double Top: EURUSD Seeks SELL
ECB Official: No Interest Rate Cut Until June
Market analysts consider ECB’s inflation prospects wrong and expect more interest rate cuts this year. This week, the ECB has a lot of focus for the market, with the European Central Bank and Turkey’s policy meeting on Thursday.
Potential Double Bottom
EURUSD is still held in the resistance area, prices are observed forming a ranging area. There seems to be a potential double top pattern on the H1 time frame. The SELL opportunity will increase if the resistance fails to break.
Conclusion: WEAK EURUSD
Resistance
- R1 1.09200
- R2 1.08800
- R3 1.09450
- R4 1.09700
Support
- S1 1.08900
- S2 1.09200
- S3 1.08750
- S4 1.08550
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.