EURUSD Forex Analysis for Today, Monday(08-07-2024)

EURUSD Forex Analysis for Today, Monday(08-07-2024)

EURUSD Forex Analysis for Today, Monday(08-07-2024)

Potential BUY EURUSD: Monitor Uptrend Line Area

EURUSD Analysis

June US NFP Lower

June US NFP data was released lower than May, at 206 thousand below May’s figure of 218 thousand. The unemployment rate rose from 4 percent to 4.1 percent. This data increases the likelihood of a Fed rate cut this year, particularly in September.

Monitor Trendline Area

The price is still moving above the trendline seen in the H1 time frame. Buying opportunities can be found in the uptrend line area.

Prediction: STRONG EURUSD

Resistance

  • R1 1.07895
  • R2 1.08460
  • R3 1.08727
  • R4 1.08968

Support

  • S1 1.07500
  • S2 1.08000
  • S3 1.08500
  • S4 1.07000
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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.


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