EURUSD Forex Analysis for Today – Tuesday (14-05-2024)

EURUSD Forex Analysis for Today – Tuesday (14-05-2024)

EURUSD Forex Analysis for Today – Tuesday (14-05-2024)

Potential SELL Opportunity for EURUSD: Possible DOUBLE TOP!

EURUSD Analysis

Market Focus Shifts to US Inflation Data

The market is still awaiting the release of a series of economic data from the United States this week. Today’s PPI data will be the main focus. Meanwhile, the CPI will be announced on Wednesday and is expected to rise by 3.4% YoY.

Potential Double Top

The price has the potential to form a double top pattern on the H4 time frame. Sell opportunities can be sought in the resistance area.

Prediction: WEAK EURUSD

Resistance Levels

  • R1 1.08213
  • R2 1.07905
  • R3 1.08430
  • R4 1.08653

Support Levels

  • S1 1.07905
  • S2 1.08213
  • S3 1.07694
  • S4 1.07502

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