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EURUSD Consolidating, Potential Upside Movement
EURUSD Analysis – Continued weakness in the US dollar is driving EURUSD. On the H1 timeframe chart, the price has the potential to form a rally base rally formation if it successfully breaks resistance.
Today’s Trading Strategy:
- Initiate Buy Stop @1.11227
- Target: 1.11500 – 1.11700
- Alternatives:
- Consider Sell Stop @1.10957
- Target: 1.10791 – 1.10521
Resistance Levels:
- R1 1.10957
- R2 1.10791
- R3 1.10521
Support Levels:
- S1 1.11227
- S2 1.11500
- S3 1.11700
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