EURUSD Forex Analysis for Today, Wednesday(22-05-2024)

EURUSD Forex Analysis for Today, Wednesday(22-05-2024)

EURUSD Forex Analysis for Today, Wednesday(22-05-2024)

Opportunity to Buy EURUSD: Potential Symmetrical Triangle

EURUSD Analysis

EURUSD Stable Along with Dollar Index

The stability of the dollar index over the past two days has been mirrored by EURUSD, but the market still holds hope for Fed rate cuts, especially after Christopher Waller, a member of the Fed’s Board of Governors, shifted his stance from hawkish to dovish.

Potential Symmetrical Triangle Pattern

EURUSD appears to be forming a symmetrical triangle pattern on the H4 time frame. Buying opportunities can be sought at the lower line or support area.


Resistance Levels:

  • R1 1.08531
  • R2 1.08273
  • R3 1.08672
  • R4 1.08837

Support Levels:

  • S1 1.08273
  • S2 1.08531
  • S3 1.08114
  • S4 1.07922

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