NEWS: EURUSD is rising 0.4%. The EURUSD extends its gains in the lead up to the Federal Reserve Interest Rate decision tomorrow, with a more dovish sentiment expected than previously thought.
Possible Scenarios:
If EURUSD fails to breach through R2 of 1.07866, our Research Department expects the EURUSD to undergo a short- term downward correction.
If EURUSD manages to break above its R2 of 1.07866, our Research Department expects the EURUSD to extend its gains to its R3 of 1.08209.
Support and Resistance Levels:
EURUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.05921 |
1.06264 |
1.06608 |
1.07065 |
1.07522 |
1.07866 |
1.08209 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.89 |
(+/-) £81.6 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.07659
***GBP/USD = 1.22552
Calculations for exchange rate used as of Tuesday, March 21, 2023, GMT 11:10h