EURUSD Forex Analysis for Today, Thursday (05-09-2024)
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EURUSD Presents a BUY Opportunity, DOWN TRENDLINE Breaks!
EURUSD Analysis
The market is awaiting the Eurozone GDP, scheduled to be announced on Friday. The growth in the second quarter is expected to remain consistent with the previous reading, which is 0.3% QoQ, and rise from 0.4% to 0.6% YoY.
Down Trendline Break
The price has broken above the down trendline on the H1 timeframe, indicating a bullish intraday bias today. A buy signal confirmation can be sought if a pullback to the trendline area occurs.
Prediction: STRONG EURUSD
Resistance Levels
- R1: 1.10196
- R2: 1.10964
- R3: 1.11324
- R4: 1.11682
Support Levels
- S1: 1.10000
- S2: 1.10200
- S3: 1.10400
- S4: 1.10600
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