EURUSD Plummets! Prepare to SELL Today
Analysis of EURUSD
German Inflation Data Falls
The euro weakened after a combination of lower German inflation data and a stronger USD following comments from Fed official Neel Kashkari, who indicated expectations of a Fed rate hike and predicted only two rate cuts.
Sell If Support Breaks
The price is under pressure and testing the support area. A break below this support area will increase sell opportunities.
Forecast: WEAK EURUSD
Resistance Levels:
- R1: 1.08270
- R2: 1.08089
- R3: 1.08399
- R4: 1.08574
Support Levels:
- S1: 1.07870
- S2: 1.08089
- S3: 1.07790
- S4: 1.07692
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