EURUSD Forex Analysis – Friday (26-04-2024)

EURUSD Forex Analysis – Friday (26-04-2024)

EURUSD Forex Analysis for Today – Friday (26-04-2024)

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SELL Opportunity in EURUSD! Potential Double Top

EURUSD Daily Analysis

Market Focus on US Core PCE Data

The market is focused on the US Core PCE data to be announced tonight. Components of this data, such as durable goods orders, have also increased. Inflationary elements like PCE can make the Fed more confident in holding off interest rate cuts until September and provide room for USD strength.

Potential Double Top Formation

Prices are testing the resistance area and potentially forming a double top pattern on the H1 time frame. Sell opportunities can be sought if there is confirmation of a bearish signal in that resistance area.

Prediction: WEAK EURUSD

Resistance Levels

  • R1: 1.07712
  • R2: 1.07284
  • R3: 1.07905
  • R4: 1.08081

Support Levels

  • S1: 1.07284
  • S2: 1.07712
  • S3: 1.07102
  • S4: 1.06891

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