EURUSD Forex Analysis for Today, Friday (06-09-2024)

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EURUSD Still Has BUY Potential After Down Trendline Break

EURUSD Analysis

The market is awaiting the US non-farm payrolls (NFP) data. The USD weakened again ahead of the NFP announcement. Last night, the ADP non-farm payrolls data for the private sector came in lower than the previous month’s data.

Down Trendline Break

The price broke above the down trendline on the H1 timeframe, turning the intraday bias bullish for today. A Change of Character (ChOCh) is also visible. A buy signal confirmation can be sought if a pullback occurs to the ChOCh area.

Prediction: STRONG EURUSD

Resistance Levels

• R1: 1.10334
• R2: 1.11108
• R3: 1.11461
• R4: 1.11829

Support Levels

• S1: 1.10000
• S2: 1.10200
• S3: 1.10400
• S4: 1.10600

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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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EURUSD Forex Analysis for Today, Thursday (05-09-2024)

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EURUSD Presents a BUY Opportunity, DOWN TRENDLINE Breaks!

EURUSD Analysis

The market is awaiting the Eurozone GDP, scheduled to be announced on Friday. The growth in the second quarter is expected to remain consistent with the previous reading, which is 0.3% QoQ, and rise from 0.4% to 0.6% YoY.

Down Trendline Break

The price has broken above the down trendline on the H1 timeframe, indicating a bullish intraday bias today. A buy signal confirmation can be sought if a pullback to the trendline area occurs.

Prediction: STRONG EURUSD

Resistance Levels

• R1: 1.10196
• R2: 1.10964
• R3: 1.11324
• R4: 1.11682

Support Levels

• S1: 1.10000
• S2: 1.10200
• S3: 1.10400
• S4: 1.10600

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.

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Another SELL Opportunity for EURUSD! Still Held Back by the Down Trendline!

EURUSD Analysis

Market Prepares for Key Economic Data

The euro continues to weaken, reaching a two-week low against the USD as the market awaits a series of key economic data releases this week, including US non-farm payrolls, which could influence the scale of the Fed’s interest rate cuts.

Still Held by the Down Trendline

The price remains below the down trendline on the H1 time frame. A pullback has occurred towards this trendline. A confirmation of the SELL signal can be sought in this trendline area.

Prediction: WEAK EURUSD

Resistance Levels

• R1 1.11400
• R2 1.11200
• R3 1.11000
• R4 1.10800

Support Levels

• S1 1.10840
• S2 1.10281
• S3 1.10024
• S4 1.09745

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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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EURUSD SELL Opportunity! Potential SYMMETRICAL TRIANGLE Pattern!

EURUSD Analysis

Market Monitoring US NFP

The USD has strengthened to a two-week high against the euro as market expectations for aggressive rate cuts by the Fed this month have diminished. This week, the market’s focus is on a series of data culminating in the US non-farm payrolls report on Friday.

Potential Symmetrical Triangle Pattern

There is a possibility of a symmetrical triangle pattern forming on the H1 time frame. A sell signal can be sought if this pattern is confirmed, indicated by a break below the pattern’s line.

Prediction: WEAK EURUSD

Resistance Levels

• R1 1.11600
• R2 1.11400
• R3 1.11200
• R4 1.11000

Support Levels

• S1 1.10840
• S2 1.10281
• S3 1.10024
• S4 1.09745

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.

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EURUSD Still Has SELL Potential, Monitor Resistance Area

EURUSD Analysis

Market Focus Shifts to US PCE

The market’s focus today shifts to the Core PCE Price Index data to gain inflation insights that could influence the Fed’s decision. Previously, the U.S. economic growth data for Q2 QoQ increased from 1.4% to 3%, while the weekly jobless claims decreased from 233,000 to 231,000.

Support Turns Into Resistance

The price continues to decline, breaking through the support area, which has now become resistance. A sell signal can be sought if a pullback to this resistance area occurs.

Prediction: WEAK EURUSD

Resistance Levels

• R1 1.12000
• R2 1.11800
• R3 1.11600
• R4 1.11400

Support Levels

• S1 1.11468
• S2 1.10648
• S3 1.10249
• S4 1.09824

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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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EURUSD SELL Potential, Up Trendline Has BROKEN!

EURUSD Analysis

USD Strengthens Towards Month-End

The USD has strengthened as the month comes to a close, rebounding from its earlier weakness that pushed it to the lowest annual levels. The market will now be closely watching economic data to gauge how quickly the Fed might proceed with rate cuts. Tonight, the US GDP will be released, followed by the US Core PCE Price Index on Friday.

Up Trendline Broken

The price has broken below the uptrend line seen on the H1 timeframe, which tilts the intraday bias towards bearishness today. A sell signal can be sought if the price re-enters the designated entry area.

Prediction: WEAK EURUSD

Resistance Levels

• R1 1.12200
• R2 1.12000
• R3 1.11800
• R4 1.11600

Support Levels

• S1 1.12057
• S2 1.11214
• S3 1.10812
• S4 1.10416

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.

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EURUSD Still Has BUY Potential, Moving Within Up Trendline Area

EURUSD Analysis

EURUSD Boosted by USD Weakness

EURUSD continues to move in a strengthening trend, driven by the weakening of the USD. The bullish sentiment remains intact since Fed Chairman Jerome Powell signaled a definitive rate cut in September.

Correction to Up Trendline Area

The price has corrected to the up trendline area visible on the H1 timeframe. A buy signal confirmation can be sought in this trendline area.

Prediction: STRONG EURUSD

Resistance Levels

• R1 1.11311
• R2 1.12102
• R3 1.12474
• R4 1.12860

Support Levels

• S1 1.10000
• S2 1.10500
• S3 1.11000
• S4 1.11500

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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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EURUSD Poised for BUY Again, Price Corrected to Up Trendline Area

EURUSD Analysis

Market Watches German GDP

Today, the market will closely observe Germany’s GDP data. Germany is a key indicator of the economic strength of the eurozone. Market sentiment remains balanced between the euro and USD, although there is a possibility that the European Central Bank might follow the Fed’s lead in cutting interest rates next month.

Correction to Up Trendline Area

Price has corrected to the up trendline area visible on the H1 time frame. Confirmation of a buy signal can be sought in this trendline area.

Forecast: STRONG EURUSD

Resistance Levels:

• R1: 1.11311
• R2: 1.12102
• R3: 1.12474
• R4: 1.12860

Support Levels:

• S1: 1.10000
• S2: 1.10500
• S3: 1.11000
• S4: 1.11500

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.

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Check EURUSD BUY Opportunity, Price Resumes Uptrend

EURUSD Analysis

Powell’s Speech Reaffirms Likelihood of Rate Cut

Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium has reinforced the possibility of a rate cut by the Fed in September. According to the CME FedWatch Tool, only 28% of market participants expect a 50 basis point rate cut by the Fed, while 72% anticipate a cut of only 25 basis points.

Resuming Uptrend

The price has resumed its uptrend for intraday bias, marked by the uptrend line visible on the H1 time frame. A confirmation buy signal can be sought in the trendline area.

Forecast: STRONG EURUSD

Resistance Levels:

• R1: 1.10901
• R2: 1.11715
• R3: 1.12171
• R4: 1.12620

Support Levels:

• S1: 1.10000
• S2: 1.10200
• S3: 1.10400
• S4: 1.10600

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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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EURUSD Forex Analysis for Today, Friday (23-08-2024)

Look for SELL Opportunities on EURUSD! TRENDLINE BROKEN!

EURUSD Analysis

USD Strengthens Ahead of Powell’s Speech

The Euro weakened from a 13-month high against the USD ahead of Fed Chair Jerome Powell’s speech tonight at the Jackson Hole Symposium. According to the CME FedWatch Tool, only 27% of market participants now expect the Fed to cut interest rates by 50 basis points, while 73% anticipate a cut of just 25 basis points.

Up Trendline Broken

The up trendline seen on the H1 time frame yesterday has been broken, indicating a potential bearish bias for intraday trading today. Confirmation for a sell signal can be sought in that trendline area.

Forecast: WEAK EURUSD

Resistance Levels:

• R1: 1.11800
• R2: 1.11600
• R3: 1.11400
• R4: 1.11200

Support Levels:

• S1: 1.11805
• S2: 1.10752
• S3: 1.10201
• S4: 1.09647

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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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