Relevance up to 16:00 2021-01-27 UTC+3
The EUR / USD pair, before starting the American session, is trading close to the EMA of 200 in 4-hour charts, and above the SMA of 21, the last 2 candles have left a Doji, which means that there is much indecision in the market.
There is a probability that the EUR / USD pair, in 4-hour charts, has a decline below this level of the 200 EMA, for which it would be a good opportunity to sell below this level.
In addition to the 4/8 of Murray, around 1.2207, it is also another immediate resistance, any of these levels may continue to push the EUR / USD down, until the support of the 21 SMA.
If the EUR / USD pair again trades below the 21 SMA on 4-hour charts, it would be a good selling opportunity targeting Murray’s 3/8 around 1.2085.
The eagle indicator shows a weak bullish signal, we should expect a consolidation above 1.2207, for a new bullish impulse, otherwise the euro-dollar will continue under downward pressure.
The sentiment of the market for today January 22, shows that the EUR / USD pair is being sold by 58% of operators, they maintain positions to the downside, this is a sign that in the short term, the euro / usd could fall to the levels ed support at about 1.2050, for further bullish momentum.
Support And Resistance Levels For January 22-25, 2021
Resistance (1) 1.2189
Resistance (2) 1.2217
Resistance (3) 1.2261
Support (1) 1.2123
Support (2) 1.2071
Support (3) 1.2025
Trading tip for EUR/USD for January 22-25, 2021
Sell below 1.2185 (EMA 200) with take profit at 1.2133 and 1.2085 (3/8), stop loss above 1.2215.
Sell below 1.2136 (SMA 21) with take profit at 1.2085 (3/8 of murray), stop loss above 1.2185.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
Forex original source link