EURUSD Forex Analysis for Today, Wednesday (29-05-2024)

EURUSD Forex Analysis for Today, Wednesday (29-05-2024)

Prepare to BUY EURUSD: Pullback to Support Area

Analysis of EURUSD
ECB Continues Rate Cuts, But May Not Persist
ECB official Francois Villeroy de Galhau confirmed that they are almost certain to cut rates at the June meeting, but the market is still uncertain if the rate-cutting cycle will continue.

Pullback to Trendline and Support Area

The price appears to have corrected to the support area and the downtrend line has been breached on the H1 time frame. Look for buy signal confirmation in the support and trendline area.


Resistance Levels:

  • R1: 1.08460
  • R2: 1.08251
  • R3: 1.08609
  • R4: 1.08742

Support Levels:

  • S1: 1.08251
  • S2: 1.08460
  • S3: 1.08190
  • S4: 1.08112

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *