empty
 
 
27.01.2023 07:08 AM
Trading plan for EURUSD on January 27, 2023

This image is no longer relevant

Technical outlook:

EURUSD rallied through the 1.0929 highs on Thursday before finding resistance and pulling back again. The single currency pair is seen to be trading close to 1.0870 at this point in writing as the bears remain poised to firm their grip further. A drag below 1.0770 will add confidence to the bearish outlook in the near term. Ideally, prices should stay below 1.0929.

EURUSD seems to have terminated its rally, which had begun from the 0.9535 low in September 2022, at the 1.0929 high. If the above scenario is correct and holds well, prices should reverse lower from here and drag towards 1.0400 at least. A bullish reversal from 1.0700 could resume the uptrend though. The instrument is looking lower for the moment.

EURUSD remains well supported at 1.0481, while resistance is strong around 1.0929 as seen on the daily chart. A minimum drag below 1.0481 is now required to confirm a further bearish move. The potential targets remain towards 1.0400 and down to 1.0050 levels respectively. A high probability remains for a bullish turn from 1.0050 levels since it is the Fibonacci 0.618 retracement of the entire rally.

Trading idea:

Potential bearish drop against 1.1000

Good luck!

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback