EURUSD Forex Analysis for Today, Thursday (07-09-2023)
Website: www.bigrebate-fx.com
EURUSD in Support Area, Bearish Outlook Looming
Analysis on EURUSD – The strengthening of the US dollar is affecting the movement of EURUSD. EURUSD is moving down to test the support area of 1.07154 – 1.06978.
Today’s Trading Strategy:
There is a potential opportunity to sell EURUSD today if it breaks below the support area of 1.07154 – 1.06978, with the potential downside target in the range of 1.06497 – 1.06225.
Alternative Scenario:
If the support area of 1.07154 – 1.06978 holds and is not breached, it may potentially push EURUSD higher towards the range of 1.08029 – 1.08106.
Resistance Levels
- R1: 1.08106
- R2: 1.08851
- R3: 1.09621
Support Levels
- S1: 1.06978
- S2: 1.06225
- S3: 1.07955
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