EURUSD Forex Analysis for Today, Monday(27-05-2024)
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EURUSD Still Opportunities to SELL: Still Held by Trendline
EURUSD Analysis
ECB Expected to Cut Interest Rates
The European Central Bank (ECB) is expected to cut interest rates at next month’s meeting. The market will await the release of Flash CPI data for May.
Testing the Trendline Area
Prices are seen testing the downward trendline area on the H1 timeframe. Sell opportunities can be sought at the trendline area or if there is a breakthrough below the nearest support area.
Forecast: WEAK EURUSD
Resistance Levels:
- R1 1.08946
- R2 1.08536
- R3 1.09273
- R4 1.09475
Support Levels:
- S1 1.08316
- S2 1.08784
- S3 1.08116
- S4 1.07835
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