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