EURUSD Forex Analysis for Today, Wednesday(17-04-2024)

EURUSD Forex Analysis for Today, Wednesday(17-04-2024)

EURUSD Forex Analysis for Today, Wednesday(17-04-2024)

Monitor Selling Opportunities in EURUSD: Prices Moving in a Drop Base Drop Pattern

Daily Analysis EURUSD

US Dollar Index Strengthens

The US dollar (USD) is driven higher as retail sales in the US increased by 0.7% in March compared to the forecast of 0.3%, and the Fed stated that interest rate cuts were not made in June due to high inflation in the US.

Drop Base Drop

The current movement of EURUSD is in a drop base drop pattern on the H1 timeframe. Confirmation of a selling signal can be sought as long as prices do not breach the nearest resistance area.

Prediction: WEAK EURUSD


  • R1 1.06909
  • R2 1.06411
  • R3 1.07162
  • R4 1.07419


  • S1 1.06411
  • S2 1.06909
  • S3 1.06159
  • S4 1.05892

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