EURUSD SELL Potential, Up Trendline Has BROKEN!
EURUSD Analysis
USD Strengthens Towards Month-End
The USD has strengthened as the month comes to a close, rebounding from its earlier weakness that pushed it to the lowest annual levels. The market will now be closely watching economic data to gauge how quickly the Fed might proceed with rate cuts. Tonight, the US GDP will be released, followed by the US Core PCE Price Index on Friday.
Up Trendline Broken
The price has broken below the uptrend line seen on the H1 timeframe, which tilts the intraday bias towards bearishness today. A sell signal can be sought if the price re-enters the designated entry area.
Prediction: WEAK EURUSD
Resistance Levels
- R1 1.12200
- R2 1.12000
- R3 1.11800
- R4 1.11600
Support Levels
- S1 1.12057
- S2 1.11214
- S3 1.10812
- S4 1.10416
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