EURUSD Forex Analysis – Monday (06-05-2024)

EURUSD Forex Analysis – Monday (06-05-2024)

EURUSD Forex Analysis for Today – Monday (06-05-2024)

Visit EURUSD Forex Analysis

Sell Opportunity for EURUSD: EURUSD Still Held at Resistance

EURUSD Analysis

Focus Back on ECB

The market is once again focused on the possibility of interest rate cuts by the European Central Bank in June, especially after German inflation data was released below expectations.

Trendline and Resistance Holding

Prices are held at the trendline resistance area. Sell opportunities can be sought again at the trendline and resistance area.

Prediction: WEAK EURUSD

Resistance Levels

  • R1: 1.08342
  • R2: 1.07905
  • R3: 1.08578
  • R4: 1.08820

Support Levels

  • S1: 1.07905
  • S2: 1.08342
  • S3: 1.07752
  • S4: 1.07506
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