EURUSD Forex Analysis for Today, Thursday (16-05-2024)

EURUSD Forex Analysis for Today, Thursday (16-05-2024)

EURUSD Forex Analysis for Today, Thursday (16-05-2024)

EURUSD Continues Bullish: Buy If Resistance Breaks

EURUSD Analysis

Market Increasingly Confident Fed Will Cut Rates

Lower-than-expected US CPI and retail sales data have made the market increasingly confident that the Fed will cut interest rates in September, thereby pressuring the USD and driving EURUSD higher.

Monitor Potential Resistance Break

EURUSD is still moving above the upward trendline in the H1 time frame. Buy opportunities can be sought if there is a breakout above the resistance area or a correction to the support area.



  • R1 1.08948
  • R2 1.08654
  • R3 1.09084
  • R4 1.09236


  • S1 1.08654
  • S2 1.08948
  • S3 1.08480
  • S4 1.08274

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Your email address will not be published.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 *