EURUSD Forex Analysis for Today – Monday (04-03-2024)
Prepare to BUY EURUSD, Bullish Wedge Potential Still Exists
Daily Analysis EURUSD
Weakened Data Pressures the Dollar
The dollar weakened on Friday after U.S. economic data showed figures weaker than expected. U.S. manufacturing data fell in February, and economists at Goldman Sachs cut GDP estimates for the first quarter by 0.2 percentage points.
Potential Bullish Falling Wedge Pattern
There is a potential formation of a bullish falling wedge pattern on the H1 time frame. Breaking the upper line or resistance will confirm the pattern and increase buying opportunities.
Prediction: STRONG EURUSD
Resistance Levels
- R1: 1.08694
- R2: 1.07826
- R3: 1.08904
- R4: 1.09440
Support Levels
- S1: 1.07826
- S2: 1.08694
- S3: 1.07605
- S4: 1.07207
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