EURUSD forex analysis for today, Monday(03-06-2024)

EURUSD forex analysis for today, Monday(03-06-2024)

Prepare to SELL EURUSD: Held at Resistance Below Trendline

Analyze EURUSD

ECB Expected to Cut Interest Rates

The ECB is anticipated to cut interest rates by 25 basis points this week. Although there are expectations that the rate-cutting cycle will not continue in July, the market is still monitoring official statements from ECB officials and eurozone inflation data.

Look for Sell in the Resistance Area

Prices are held in the resistance area and are still moving below the descending trendline seen on the H1 time frame. Look for selling opportunities in the resistance area and along the trendline.

Prediction: WEAK EURUSD

  • Resistance
    • R1 1.08940
    • R2 1.08730
    • R3 1.09146
    • R4 1.09273
  • Support
    • S1 1.08570
    • S2 1.08940
    • S3 1.08400
    • S4 1.08098



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