EURUSD Forex Analysis for Today, Thursday (26-10-2023)
EURUSD Potential Downward Movement, Heading Towards Support Area
EURUSD Analysis – The strengthening of the US dollar is affecting the movement of EURUSD. EURUSD has once again declined, heading towards the support area between 1.05317 and 1.05177.
Today’s Trading Strategy:
There is an opportunity to SELL EURUSD today as long as it does not break above the range of 1.06230 to 1.06408, with the potential to decline to the area between 1.05317 and 1.05177.
Alternative:
A breakthrough of the resistance area between 1.06230 and 1.06408 could potentially push EURUSD higher to the range of 1.06860 to 1.06953.
Resistance Levels
- R1: 1.06408
- R2: 1.06953
- R3: 1.07394
Support Levels
- S1: 1.05177
- S2: 1.04757
- S3: 1.04428
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