The EUR / USD pair continues to be bearish, in the 4-hour chart we can see a bearish pressure line, now the 200 EMA, and the 21 SMA, are located above the price, thus supporting the bearish outlook.
The EUR / USD pair, is located below the 3/8 of murray, which has now become a strong resistance, the level of 1.2085 will be the barrier to overcome and recover the bullish fierceness, if not, below 1.2060 , we could see a drop to 1,2005.
The yellow zone will be the guideline to analyze a possible trading entry, if the pair is trading above 1.2085, we can buy with targets at the 21 SMA, if it is trading below 1.2060, we can sell with targets at 1.2005.
The eagle indicator is entering an oversold zone, for which we must be careful, as there is likely to be a technical rebound in the next few hours.
Support And Resistance Levels For January 18-19, 2021
Resistance (1) 1.2123
Resistance (2) 1.2150
Resistance (3) 1.2191
Support (1) 1.2043
Support (2) 1.2016
Support (3) 1.1957
Trading tip for EUR/USD for January 18-19, 2021
Buy above 3/8 murray at 1.2085, with take profit at 1.2133 and 1.2185, stop loss below 1.2050.
Sell if pullback to 1.2135 ( SMA 21) with take profit at 1.2085 (3/8) , Stop loss above 1.2175 (EMA 200).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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