EURUSD Forex Analysis for Today, Wednesday (10-07-2024)

EURUSD Forex Analysis for Today, Wednesday (10-07-2024)

EURUSD Forex Analysis for Today, Wednesday (10-07-2024)

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SELL Opportunity on EURUSD: Bearish Wedge Pattern Confirmed

EURUSD Analysis

Powell Gives No Clue on Rate Cuts

In his speech last night, Fed Chairman Jerome Powell did not provide any clues regarding the direction of Fed rate cuts. He reiterated that the Fed still needs stronger evidence that inflation is truly heading towards the 2 percent target before cutting interest rates.

Bearish Wedge Pattern Confirmed

The bearish falling wedge pattern has been confirmed on the H1 time frame, but the sell opportunity will increase if the price breaks below the support area, confirming a change of character (ChoCh).

Prediction: WEAK EURUSD


  • R1 1.08500
  • R2 1.08000
  • R3 1.07500
  • R4 1.07000


  • S1 1.08520
  • S2 1.07511
  • S3 1.07000
  • S4 1.06542

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