18.01.202214:38 Forex Analysis & Reviews: EUR/USD analysis for January 18, 2022 - Downside breakout and potential for bigger drop

Technical analysis:

Exchange Rates 18.01.2022 analysis

EUR/USD has been trading downside and the EUR is testing key support at 1,1385. There is potential for the downside movement towards the mean.

Trading recommendation:

Due to the breakout of the consolidation and the downside movement towards key support I see potential for thee bigger downside movement.

Watch for selling opportunities with the downside targets at 1,1355 and 1,1320

Key resistance is set at the price of 1,1432

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

Petar Jacimovic,
Analytical expert of InstaForex
© 2007-2022
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