EUR USD Technical Analysis 21 January 2021
EUR USD Technical Analysis: The EUR declined 0.19% against the USD on Wednesday and closed at 1.2104. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.2118, which is 0.12% higher from yesterday’s closed.
The pair is expected to find support at 1.2080 and a fall through could take it to the next support level of 1.2055. The pair is expected to find its first resistance at 1.2155, and a rise through could take it to the next resistance level of 1.2175. Today’s expected trading range is between 1.2000 support and 1.2200 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.2080
Support 2: 1.2055
Support 3: 1.2000
Important Important resistance levels:
Resistance 1: 1.2155
Resistance 2: 1.2175
Resistance 3: 1.2200
EUR/USD buying opportunity for intraday trading on January 21, 2021
Buy near the support zones 1.2080 and 1.2055 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
EUR/USD selling opportunity for intraday trading on January 21, 2021
Sell near the resistance zones 1.2155 and 1.2175 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
Economic events to watch for the next 24 hours: BoE Credit Conditions Survey (GBP), ECB Interest Rate Decision (EUR), ECB Monetary Policy Statement, New Housing Price Index m/m (CAD), Building Permits (USD), Housing Starts m/m (USD), Initial Jobless Claims (USD), ECB Monetary Policy Press Conference (EUR).