EUR/USD, Wednesday forecast, January 29

EUR/USD, 6E futures market
Wednesday forecast, January 29
Uptrend
An uptrend will start from support 1.1030, which will be followed by moving up to resistance level 1.1050 and 1.1060.
Downtrend
The downtrend may be expected to continue in case the market drops below support level 1.1030, which will be followed by reaching support level 1.1015 and 1.0970.

EUR/USD spot market
Wednesday forecast, January 29
Uptrend
An uptrend will start from support 1.1100, which will be followed by moving up to resistance level 1.1017 and 1.107.
Downtrend
The downtrend may be expected to continue in case the market drops below support level 1.1100, which will be followed by reaching support level 1.0981 and 1.0940.

Weekly forecast, January 27 – 31
Most important news of this week
Monday: EU German Ifo Business Climate Index (Jan), US New Home Sales (Dec)
Tuesday: US Core Durable Goods Orders (MoM) (Dec)
Wednesday: US Pending Home Sales (MoM) (Dec), Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
Thursday: EU Unemployment Rate (Dec), US GDP (QoQ) (Q4)
Friday: EU CPI (YoY) (Jan), GDP (YoY), US Michigan Consumer

Forecast and technical analysis
Downtrend

The downtrend may be expected to continue in case the market drops below support level 1.1017, which will be followed by reaching support level 1.0940.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1036, which will be followed by moving up to resistance level 1.1105.

Monthly forecast, January – February
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 1.1200, which will be followed by reaching support level 1.1075 and 1.1020.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1.1200, which will be followed by moving up to resistance level 1.1270 and 1.1370.