EUR USD Technical Analysis 29 January 2021
EUR USD Technical Analysis: The EUR rose 0.09% against the USD on Thursday and closed at 1.2121. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2125, which is 0.05% higher from yesterday’s closed.
The pair is expected to find support at 1.2085 and a fall through could take it to the next support level of 1.2060. The pair is expected to find its first resistance at 1.2140, and a rise through could take it to the next resistance level of 1.2170. Today’s expected trading range is between 1.2060 support and 1.2185 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2085
Support 2: 1.2060
Support 3: 1.2000
Important Important resistance levels:
Resistance 1: 1.2140
Resistance 2: 1.2170
Resistance 3: 1.2185
EUR/USD buying opportunity for intraday trading on January 29, 2021
Buy near the support zones 1.2085 and 1.2060 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 29, 2021
Sell near the resistance zones 1.2140 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: GDP m/m (CAD), IPPI m/m (CAD), Core PCE Price Index m/m (USD), Personal Spending m/m (USD), Pending Home Sales m/m (USD).