EUR USD Technical Analysis 28 January 2021
EUR USD Technical Analysis: The EUR declined 0.40% against the USD on Wednesday and closed at 1.2111. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2107, which is 0.04% lower from yesterday’s closed.
The pair is expected to find support at 1.2060 and a fall through could take it to the next support level of 1.2000. The pair is expected to find its first resistance at 1.2115, and a rise through could take it to the next resistance level of 1.2170. Today’s expected trading range is between 1.2000 support and 1.2185 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2060
Support 2: 1.2000
Support 3: 1.1940
Important Important resistance levels:
Resistance 1: 1.2115
Resistance 2: 1.2170
Resistance 3: 1.2185
EUR/USD buying opportunity for intraday trading on January 28, 2021
Buy near the support zones 1.2060 and 1.2000 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
EUR/USD selling opportunity for intraday trading on January 28, 2021
Sell near the resistance zones 1.2115 and 1.2170 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
Economic events to watch for the next 24 hours: Building Permits m/m (CAD) GDP q/q (USD), Retail Inventories m/m (USD), Initial Jobless Claims (USD), New Home Sales (USD).