EURUSD Forex Analysis for Today, Thursday (22-02-2024)
EURUSD Still Held by Resistance, Monitor for SELL Opportunities
Daily EURUSD Analysis
Market Confident in Fed Rate Cut Starting June
Market participants are confident that the Federal Reserve will only start cutting interest rates from June this year. From the FOMC minutes, it is evident that the interest rate hike cycle ended in January.
Held by Resistance Area
Sell opportunities can still be sought as the price is still held by the resistance area, even though the price has moved above the downtrend line. If the price falls below the trendline again, the chances of selling will increase.
Prediction: WEAK EURUSD
Resistance
- R1 1.08462
- R2 1.08218
- R3 1.08749
- R4 1.09134
Support
- S1 1.08218
- S2 1.08462
- S3 1.08007
- S4 1.07802
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