EURUSD Forex Analysis for Today, Wednesday(25-10-2023)

EURUSD Forex Analysis for Today, Wednesday(25-10-2023)

EURUSD Forex Analysis for Today, Wednesday (25-10-2023)

EURUSD Under Pressure Trying to Break Through Support Area

EURUSD Analysis – The strength of the US dollar is affecting the movement of EURUSD, as EURUSD is once again falling, testing the support area of 1.05741 – 1.05603.

Today’s Trading Strategy:

There is a potential to SELL EURUSD today if it breaks below the 1.05741 – 1.05603 area, with the potential to decline to the 1.05317 – 1.05177 area.

Alternative:

If the support area 1.05741 – 1.05603 fails to be breached, it could potentially push EURUSD up to the 1.06827 – 1.06997 area.

Resistance

  • R1 1.06997
  • R2 1.07394
  • R3 1.07777

Support

  • S1 1.05603
  • S2 1.05177
  • S3 1.04757
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