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