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27.01.202114:14 Forex Analysis & Reviews: EUR/USD Hot Forecast for 27 January, 2021

  • EUR/USD bulls struggling to extend control.
  • A potential Bull Flag Pattern in play on the 4H chart.

Exchange Rates 27.01.2021 analysis

EUR/USD has been extending its decline after ECB member Knot said that the bank may counter euro appreciation. Tension is mounting ahead of the Federal Reserve, which is set to leave rates unchanged but hint of the next moves.

From a near-term technical perspective, the spot had break the lower trend-line support of the recent trading range, having carved a potential Bull Flag formation on the four-hour chart.

Euro/dollar has recently dropped with momentum to the downside.Critical support is at 1.21, the weekly low and also a psychologically significant level. The next levels to watch are 1.2060 and is a stepping stones on the way up. Further below, 1.20 and 1.1960 are eyed.

Resistance awaits at 1.2150, a separator of ranges last week, and then by the all-important 1.2180 cap – last week's peak.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jan Novotny,
分析专家
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