Analysis and Forecast EUR / USD - Weekly overview (25.01-29.01)
Analysis EUR / USD:
In recent days last week, the supply has led to declines, setting new minimum. Currently, the course is located around support at 1.08. This means that once again returned to the channel of the drop. Nearby hours should lead to a correction of the recent declines, towards level 1.0840 (the upper limit of the channel). Bearing in mind the words of Mario Draghi and possible future action by the ECB, the option of further declines seem to be more likely. This means that after the correction awaits us next test support at 1.08, which may fall out positively for supply. In this case, it will open the way toward lower price levels. The aim is for the supply of aids zone between 1,0680-1,0715. At this level, it will be possible rebound declines.
Otherwise, if the start of the week will bring gains over 1.0840 then the demand will be driven toward the 1.09 level.
Considering the Eurodollar from the purely technical, we can conclude that we are in a sideways direction and further decides to break the support at 1.08 and resistance level at 1.0945.
In my opinion, a variant of the defeat of support at 1.08 seems more likely
In recent days last week, the supply has led to declines, setting new minimum. Currently, the course is located around support at 1.08. This means that once again returned to the channel of the drop. Nearby hours should lead to a correction of the recent declines, towards level 1.0840 (the upper limit of the channel). Bearing in mind the words of Mario Draghi and possible future action by the ECB, the option of further declines seem to be more likely. This means that after the correction awaits us next test support at 1.08, which may fall out positively for supply. In this case, it will open the way toward lower price levels. The aim is for the supply of aids zone between 1,0680-1,0715. At this level, it will be possible rebound declines.
Otherwise, if the start of the week will bring gains over 1.0840 then the demand will be driven toward the 1.09 level.
Considering the Eurodollar from the purely technical, we can conclude that we are in a sideways direction and further decides to break the support at 1.08 and resistance level at 1.0945.
In my opinion, a variant of the defeat of support at 1.08 seems more likely