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

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