NEWS: EURUSD price is rising 0.40% as markets are preparing for the first interest rate cut in the USA since 2020.
Possible Scenarios:
If EURUSD fails to breach through R2 of 1.11304, our Research Department expects EURUSD to undergo a short- term downward correction.
If EURUSD manages to break above its R2 of 1.11304, our Research Department expects EURUSD to extend its gains to its R3 of 1.11453.
Support and Resistance Levels:
EURUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.10461 |
1.10610 |
1.10759 |
1.10957 |
1.11155 |
1.11304 |
1.11453 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €89.86 |
(+/-) £75.81 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.11284
***GBP/USD = 1.31902
Calculations for exchange rate used as of Monday, September 16, 2024, 10:14 GMT+1