EURUSD Forex Analysis for Today, Wednesday(18-10-2023)
EURSD Rebound Towards Resistance Area
EURUSD Analysis – The depreciation of the US dollar has influenced the movement of EURUSD. Currently, EURUSD has the potential to rise towards the resistance area.
Today’s Trading Strategy:
There is an opportunity to BUY EURUSD today as long as it doesn’t break below the range of 1.05371 – 1.05204, with the potential to rise to the range of 1.06282 – 1.06401.
Alternative:
A breach of the support area of 1.05371 – 1.05204 has the potential to push EURUSD down to the range of 1.04999 – 1.04757.
Resistance Levels:
- R1: 1.06401
- R2: 1.06774
- R3: 1.07054
Support Levels:
- S1: 1.05204
- S2: 1.04757
- S3: 1.04428
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