EURUSD Forex Analysis for Today, Tuesday (31-10-2023)

EURUSD Forex Analysis for Today, Tuesday (31-10-2023)

EURUSD Forex Analysis for Today, Tuesday (31-10-2023)

EURUSD Testing Resistance, Observe for Breakthrough

Analysis of EURUSD – The correction of the US dollar has influenced the movement of EURUSD. Where EURUSD is moving in a rebound, testing the resistance area between 1.05929 and 1.06252.

Today’s Trading Strategy:

There is a potential to BUY EURUSD today if it breaks above the range of 1.05929 – 1.06252, with the potential to rise to the range of 1.06855 – 1.06948.

Alternatives:

If the resistance area of 1.05929 – 1.06252 fails to break through, it has the potential to push EURUSD down to the range of 1.05416 – 1.05172.

Resistance Levels:

  • R1 1.06100
  • R2 1.06953
  • R3 1.07394

Support Levels:

  • S1 1.05177
  • S2 1.04757
  • S3 1.04428
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