EURUSD Forex Analysis for Today – Monday(02-10-2023)
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EURUSD Held Back by Resistance, Potential Downward Reversal
Analysis of EURUSD – The strengthening of the euro is influencing the movement of EURUSD. EURUSD initially rose but was held back by the resistance zone of 1.06102 – 1.06228
Today’s Trading Strategy:
There is a potential to SELL EURUSD today as long as it does not break above the 1.06102 – 1.06228 area, with the potential for a decline to the range of 1.04973 – 1.04826
Alternatives:
If there is a breakthrough of the resistance area at 1.06102 – 1.06228, it may potentially push EURUSD up to the range of 1.06631 – 1.06774
Resistance Levels:
- R1: 1.06228
- R2: 1.06774
- R3: 1.07124
Support Levels:
- S1: 1.04826
- S2: 1.04339
- S3: 1.03827
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