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27.01.202111:28 Analytische Bewertungen Forex: EURUSD is approaching support, potential bounce

Exchange Rates 27.01.2021 analysis

Price is facing bullish pressure from our first support, in line with our horizontal pullback support, 50% fibonacci retracement and 78.6% fibonacci extension where we could see a bounce above this level to our first resistance target.

Trading Recommendation

Entry: 1.21437

Reason for Entry:

horizontal pullback support, 50% fibonacci retracement and 78.6% fibonacci extension

Take Profit: 1.21805

Reason for Take Profit:

Horizontal swing high resistance

Stop Loss: 1.21216

Reason for Stop Loss:

78.6% fibonacci retracement, 127.2% fibonacci extension

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Dean Leo
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