EURUSD Forex Analysis for Today, Friday (02-02-2024)
Resistance Holding, Selling Opportunity Arises for EURUSD
Daily EURUSD Analysis
Market Expects Fed Rate Cut in May
The dollar weakens as the market remains confident that the Fed will cut interest rates soon, despite Fed Chair Jerome Powell stating that a rate cut in March seems unlikely. The market now anticipates it will be done in May.
Resistance Holding, Bullish Momentum Wanes
Prices appear to be held at the resistance area. Bullish momentum is diminishing as candlesticks also shrink.
Prediction: WEAK EURUSD
Resistance
- R1: 1.09168
- R2: 1.08707
- R3: 1.09305
- R4: 1.09937
Support
- S1: 1.08707
- S2: 1.09168
- S3: 1.08610
- S4: 1.08213
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