EURUSD Forex Analysis for Today, Thursday (06-06-2024)

EURUSD Forex Analysis for Today, Thursday (06-06-2024)

EURUSD Forex Analysis for Today, Thursday (06-06-2024)

Watch for BUY Opportunities in EURUSD, Rising Trendline Still Holding

Analysis of EURUSD

Private Sector Employment Data Limits USD Strength

Although there is strength in the US non-manufacturing sector, the growth in private sector employment ahead of this week’s US NFP release has limited USD strength. However, keep an eye on the ECB interest rate decision tonight, with an expected 25 basis point rate cut.

Buy If Resistance is Broken

The rising trendline visible on the H1 time frame is still holding. Buying opportunities can still be sought if the price rebounds from the support area and breaks above the resistance area.


Resistance Levels

  • R1 1.08939
  • R2 1.08512
  • R3 1.09035
  • R4 1.09150

Support Levels

  • S1 1.08512
  • S2 1.08939
  • S3 1.08399
  • S4 1.08284

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. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *