EURUSD Forex Analysis for Today – Tuesday, January 16, 2024
Check out the analysis at onlineforexafrica.com
Get Ready to SELL EURUSD! Triangle Still Holding
Daily Analysis of EURUSD
The market is awaiting the direction of the Fed as the dollar fluctuates amid renewed expectations of interest rate cuts following the deterioration of PPI data.
Potential Ascending Triangle, Price at Lower Line
EURUSD is still moving in the lower line area, indicating the potential for an ascending triangle pattern on the H4 time frame. Selling opportunities will arise if there is a breakthrough of support.
Conclusion: Weak EURUSD
Resistance Levels
- R1: 1.10000
- R2: 1.09200
- R3: 1.10300
- R4: 1.10600
Support Levels
- S1: 1.09200
- S2: 1.10000
- S3: 1.08800
- S4: 1.08700
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.