EURUSD Forex Analysis for Today – Monday(11-03-2024)
Seeking BUY Opportunities for EURUSD, Still in Uptrend
Daily EURUSD Analysis
ECB Needs More Evidence to Cut Rates
ECB President, Christine Lagarde, mentioned that the ECB still needs more evidence to cut interest rates, especially after the GDP YoY data for the eurozone in the fourth quarter of 2023 showed an increase of 0.1%.
Still Moving in Uptrend
Prices are still moving above the uptrend line visible on the H1 time frame. Wait for the confirmation of buy signals in the support area or trendline. The buy scenario will be canceled if support is breached.
Prediction: STRONG EURUSD
Resistance
- R1 1.09170
- R2 1.08916
- R3 1.09343
- R4 1.09805
Support
- S1 1.08916
- S2 1.09170
- S3 1.08753
- S4 1.08624
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