EURUSD Correction, Bearish Sentiment Lingers
Analysis of EURUSD – The sustained strength of the US dollar is influencing the movement of EURUSD. EURUSD corrects higher toward the resistance area of 1.05852 – 1.06068.
Today’s Trading Strategy:
There is a potential SELL opportunity for EURUSD today as long as it does not break above the 1.05852 – 1.06068 area, with the potential to decline towards the 1.04967 – 1.04821 area.
Alternative Scenario:
A breakthrough above the resistance area of 1.05852 – 1.06068 has the potential to push EURUSD up towards the 1.06626 – 1.06769 area.
Resistance Levels:
- R1: 1.06068
- R2: 1.06769
- R3: 1.07214
Support Levels:
- S1: 1.04821
- S2: 1.04339
- S3: 1.03985
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