EURUSD Forex Analysis for Today, Tuesday (20-08-2024)
EURUSD Still Holds BUY Potential: Continues to Move Above Rising Trendline
EURUSD Analysis
Eurozone PMI Expected to Strengthen
The Eurozone’s Manufacturing PMI (Purchasing Managers’ Index) is projected to rise in August, with an expected increase to 46.0 from 45.8. Meanwhile, the Services PMI is anticipated to remain steady at 51.9.
Monitor Trendline Area
The price continues to move above the uptrend line observed on the H1 time frame. A confirmation of a buy signal can be sought if a pullback occurs toward the trendline area.
Forecast: STRONG EURUSD
Resistance Levels:
- R1: 1.09403
- R2: 1.10686
- R3: 1.11231
- R4: 1.11771
Support Levels:
- S1: 1.09500
- S2: 1.10000
- S3: 1.10500
- S4: 1.10100
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