EURUSD Forex Analysis for Today, Wednesday (17-01-2024)
Sell Opportunity for EURUSD! Potential RISING WEDGE
Daily Analysis EURUSD
Reduced Expectations of Fed Rate Cuts
Strength in the USD due to hawkish comments from a Fed official has caused the expectations of further Fed rate cuts to diminish, putting pressure on EURUSD.
Potential Bearish Wedge Formation
EURUSD has the potential to form a bearish rising wedge pattern on the M30 time frame. Selling opportunities will arise if there is a breakthrough of support.
Conclusion: WEAK EURUSD
Resistance
- R1 1.08850
- R2 1.08600
- R3 1.08950
- R4 1.10500
Support
- S1 1.08600
- S2 1.08850
- S3 1.08500
- S4 1.08200
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