EURUSD Forex Analysis for Today, Tuesday (16-07-2024)
BUY Opportunity for EURUSD: Correction to Trendline Area
Analysis EURUSD
Market Increasingly Confident of Fed Rate Cut
Fed Chairman Jerome Powell indicated that the Fed is open to the possibility of cutting interest rates even if inflation has not yet reached the Fed’s target of 2 percent.
Corrected to Trendline Area
Prices have corrected to the trendline area visible on the H1 time frame. Buying opportunities can be sought in this trendline area.
Forecast: STRONG EURUSD
Resistance
- R1 1.08599
- R2 1.09196
- R3 1.09423
- R4 1.09692
Support
- S1 1.08500
- S2 1.09000
- S3 1.09500
- S4 1.08800
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