EUR/USD Forecast, Technical Analysis

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  • EUR/USD, 6E futures market
    Monday forecast, January 27
    Downtrend
    The downtrend may be expected to continue in case the market drops below support level 1.1050, which will be followed by reaching support level 1.1015.
    Uptrend
    An uptrend will start as soon, as the pair rises above resistance level 1.1070, which will be followed by moving up to resistance level 1.1100.

    EUR/USD spot market
    Monday forecast, January 27
    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 1.1098.
    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 1.1061 – 1.1080.

    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.

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