EURUSD Forex Analysis for Today, Wednesday(22-05-2024)
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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.
Forecast: STRONG EURUSD
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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