EURUSD Forex Analysis for Today, Monday (08-01-2024)

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EURUSD Getting Ready to Sell Again! Bearish Pattern Detected

EURUSD Analysis – The Euro is once again testing the resistance area, followed by the appearance of a bearish harami pattern. EURUSD has the potential to decline again today, but be cautious of any pullbacks towards the resistance area.

Today’s Trading Strategy:

• SELL in the range of 1.09600-1.09900
• Target: 1.09000-1.08850

Alternatives:

• Place a BUY STOP @1.10000
• Target: 1.10200-1.10400

Resistance Levels:

• R1: 1.10000
• R2: 1.10200
• R3: 1.10200

Support Levels:

• S1: 1.09600
• S2: 1.09900
• S3: 1.09000
• S4: 1.08850

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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