EURUSD Forex Analysis for Today, Thursday (19-10-2023)
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Bearish Following EURUSD Movement
EURUSD Analysis – The strengthening of the US dollar is affecting the movement of EURUSD, where EURUSD is once again declining towards the support area of 1.04994 – 1.04752.
Today’s Trading Strategy:
There is a potential to SELL EURUSD today as long as it does not break above the range of 1.05811 – 1.05999, with the potential to fall to the area of 1.04994 – 1.04752.
Alternatives:
A breakthrough of the resistance area of 1.05811 – 1.05999 could potentially push EURUSD up to the area of 1.06277 – 1.06395.
Resistance Levels:
- R1 1.05999
- R2 1.06395
- R3 1.06769
Support Levels:
- S1 1.04752
- S2 1.04423
- S3 1.03977
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