empty
 
 
21.01.2022 05:09 PM
Technical analysis of EUR/USD for January 21, 2022

This image is no longer relevant

Overview :

The EUR/USD pair continues to move upwards from the level of 1.1290. Yesterday, the pair rose from the level of 1.1290 to a top around 1.1361 (the level of 1.1361 coincides with a ratio of 38.2% Fibonacci retracement).

Today, the first support level is seen at 1.1290 followed by 1.1252, while daily resistance 1 is seen at 1.1384.

According to the previous events, the EUR/USD pair is still moving between the levels of 1.3232 and 1.1432; for that we expect a range of 100 pips (1.1432 - 1.3232).

On the one-hour chart, immediate resistance is seen at 1.1407, which coincides with a ratio of 61.8% Fibonacci retracement -last bullish wave, top.

Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100) and (50).

Therefore, if the trend is able to break out through the first resistance level of 1.1361, we should see the pair climbing towards the daily resistance at c to test it.

The EUR/USD pair will demonstrate strength following a breakout of the high at 1.1407. Consequently, the market is likely to show signs of a bullish trend.

In other words, buy orders are recommended above 1.1361 with the first target at 1.1407. Then, the pair is likely to begin an ascending movement to 1.1407 mark and further to 1.1483 levels. The level of 1.1483 will act as strong resistance.

It would also be wise to consider where to place stop loss; this should be set below the second support of 1.1285.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback