empty
 
 
27.01.2021 09:17 AM
Indicator analysis. Daily review of EUR/USD for January 27, 2021

On Tuesday, the pair tested the resistance level of 1.2177 (bold blue line) while moving upwards. The daily candlestick closed a bit lower at 1.2158. Today, the market is likely to continue the uptrend. We expect important economic news on Wednesday at 13:30, 15:30, 19:00, 19:30 GMT (for USD). The news factor is very strong today, so different scenarios are possible.

On Wednesday, the price will attempt to continue its upward movement from the level of 1.2158 (the close of yesterday's candlestick). The upward target is located at the resistance level of 1.2177 (bold blue line). After reaching this level, it is likely to rise further to 1.2234, which is a historic level of resistance (blue dotted line).

This image is no longer relevant

Pic. 1 (daily chart)

Complex analysis:

- indicator analysis – uptrend;

- Fibonacci levels – uptrend;

- volumes – uptrend;

- candlestick analysis – uptrend;

- trend analysis – uptrend;

- Bollinger lines – uptrend;

- weekly chart - uptrend.

Conclusion:

Today, the price will continue the upward movement with the target located at the resistance level of 1.2177 (bold blue line). After reaching this level, it is likely to rise further to 1.2234, which is a historic level of resistance (blue dotted line).

In a different scenario, the price may rise to the resistance of 1.2177 (bold blue line). After that, it may retreat to 1.2063, the 38.2% fibo retracement level (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback