Forex Trading Library

EUR/USD – 31.07.2024

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The Euro fell below the support 1.0860 as prices fell back inside the old triangle formation which could push toward the 1.0700 zone.

As we see on the chart and as long as market holds below 1.0870 then the downtrend pressure could sustain and head toward 1.0700.
Above 1.0900 some strength could gather over the Euro for an advance with resistance at the 1.0980-99 zone.
The market is looking ahead to the Fed Rate decision today.

SUPPORT RESISTANCE
LEVEL1 1.0800 1.0870-1.0900
LEVEL2 1.0700 1.0980-99
LEVEL3 1.0600 1.1140

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