EURUSD Forex Analysis for Today – Monday(05-02-2024)
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SELL Opportunity for EURUSD, Prices Still Under Pressure
Daily Analysis EURUSD
Dollar Strengthens Post NFP
The dollar index strengthens to a seven-week high after the US non-farm payrolls data showed growth in January, exceeding expectations, further reducing the likelihood of the Fed cutting interest rates in the near future.
Long Bearish Candlestick
The appearance of a long bearish candlestick indicates that bearish pressure is very strong. Prices are moving in the resistance area, which can be used as a reference to seek confirmation of a sell signal.
Prediction: WEAK EURUSD
Resistance
- R1: 1.08244
- R2: 1.07955
- R3: 1.08434
- R4: 1.08799
Support
- S1: 1.07955
- S2: 1.08244
- S3: 1.07652
- S4: 1.07328
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