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18.01.202116:16 Forex Analysis & Reviews: EUR/USD analysis for January 18 2021 - Bullish divergece on the 4H time-frame and potential reversion to the mean towards 1.2115

  • Prior was 264.0K
  • Starts down 12.6%
  • Single-detached homes -6.1%
  • Multiple starts -15%

A 12.6% drop sounds bad but starts are volatile and December in Canada is a tough month to seasonally adjust for, because so much of construction is shut down.

Further Development

Exchange Rates 18.01.2021 analysis

Analyzing the current trading chart of EUR/USD, I found that sellers got exhausted on the way down at the price of 1,2060.

1-Day relative strength performance Finviz

Exchange Rates 18.01.2021 analysis

Based on the graph above I found that on the top of the list we got Lean Hogs and Feeder Cattle today and on the bottom Natural Gas and Lumber.

EUR is slightly negative for the day but with no strong momentum.

Key Levels:

Resistance: 1,2115

Support level: 1,2060

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Petar Jacimovic,
Chuyên gia phân tích của InstaForex
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