EURUSD Forex Analysis for Today, Tuesday (27-02-2024)
EURUSD Rises by 0.3%, Look for BUY Opportunities Again
Daily EURUSD Analysis
Dollar Correction
The Euro rose by 0.3% to $1.0852, after strengthening against the dollar in eight out of the last nine trading sessions. European Central Bank (ECB) officials have reiterated their focus on inflation in the eurozone, especially in the services sector and wage growth. ECB President Christine Lagarde told European parliamentarians in Strasbourg that wage growth remains strong across the entire eurozone.
Head and Shoulders Pattern Fails
The failure of the head and shoulders pattern formation on the H1 time frame caused EURUSD to rebound again. BUY opportunities can be maximized in today’s correction area.
Prediction: STRONG EURUSD
Resistance
- R1 1.08350
- R2 1.08000
- R3 1.08705
- R4 1.08840
Support
- S1 1.08000
- S2 1.08350
- S3 1.07635
- S4 1.07500
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