September 6, 2024
NEWS: EURUSD increased 0.2% after NFP results came lower than expected in August ahead of the Fed’s interest rate decision in September.
Possible Scenarios:
If EURUSD fails to breach through R2 of 1.11383, our Research Department expects the EURUSD to undergo a short- term downward correction.
If EURUSD manages to break above its R2 of 1.11383, our Research Department expects the EURUSD to extend its gains to its R3 of 1.11521.
Support and Resistance Levels:
|
EURUSD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
1.10599 |
1.10737 |
1.10875 |
1.11060 |
1.11245 |
1.11383 |
1.11521 |
Potential Profit or Potential Loss Calculations:
|
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
|
(+/-) $100 |
(+/-) €89.75 |
(+/-) £75.58 |
|||
*1 trading lot is equivalent of 100.000 units
**EUR/USD= 1.11414
***GBP/USD= 1.32313
Calculations for exchange rate used as of Friday, September 6, 2024, 13:40 GMT +1
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