The EUR / USD pair, before starting the American session, is trading close to the EMA of 200 in 4-hour charts, and above the SMA of 21, the last 2 candles have left a Doji, which means that there is much indecision in the market.
There is a probability that the EUR / USD pair, in 4-hour charts, has a decline below this level of the 200 EMA, for which it would be a good opportunity to sell below this level.
In addition to the 4/8 of Murray, around 1.2207, it is also another immediate resistance, any of these levels may continue to push the EUR / USD down, until the support of the 21 SMA.
If the EUR / USD pair again trades below the 21 SMA on 4-hour charts, it would be a good selling opportunity targeting Murray's 3/8 around 1.2085.
The eagle indicator shows a weak bullish signal, we should expect a consolidation above 1.2207, for a new bullish impulse, otherwise the euro-dollar will continue under downward pressure.
The sentiment of the market for today January 22, shows that the EUR / USD pair is being sold by 58% of operators, they maintain positions to the downside, this is a sign that in the short term, the euro / usd could fall to the levels ed support at about 1.2050, for further bullish momentum.
Support And Resistance Levels For January 22-25, 2021
Resistance (1) 1.2189
Resistance (2) 1.2217
Resistance (3) 1.2261
Support (1) 1.2123
Support (2) 1.2071
Support (3) 1.2025
Trading tip for EUR/USD for January 22-25, 2021
Sell below 1.2185 (EMA 200) with take profit at 1.2133 and 1.2085 (3/8), stop loss above 1.2215.
Sell below 1.2136 (SMA 21) with take profit at 1.2085 (3/8 of murray), stop loss above 1.2185.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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