EURUSD Forex Analysis – Thursday (02-05-2024)

EURUSD Forex Analysis – Thursday (02-05-2024)

EURUSD Forex Analysis for Today – Thursday (02-05-2024)

Visit EURUSD Forex Analysis

Check Selling Opportunities: EURUSD Pullback to Flag Area, Hindered by Resistance

EURUSD Daily Analysis

Fed: Interest Rate Cut Options Still Distant

EURUSD rose after the Fed released its latest outlook, noting an increase in inflation but still not reaching the Fed’s target. In his statement, Powell mentioned that the option to cut interest rates is still far off.

Pullback to Flag Area

Prices re-entered the flag area but were again hindered by the resistance area. Sell opportunities can be sought again in that resistance area.

Prediction: WEAK EURUSD

Resistance Levels

  • R1: 1.07703
  • R2: 1.07247
  • R3: 1.07958
  • R4: 1.08234

Support Levels

  • S1: 1.07247
  • S2: 1.07703
  • S3: 1.07086
  • S4: 1.06728

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