Technical Analysis EUR/USD 06 January

2020-01-06

Today's technical analysis is on January 06, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels of 1.11770 - 1.12085; therefore, it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.11265 - 1.10760 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.11550 where the Fibonacci levels indicate. The MACD histogram is rising below the zero line. Stochastic Oscillator is near the overbought zone. In an alternative scenario, you should wait for the breakdown of the strong resistance level 1.11875 then the level of 1.12375 - 1.12780 will become the target of investors.

In fact, today's expected important economic news in particular can lead to significant volatility of key pairs, this can stimulate significant movement to fluctuations during the London and New York sessions. This allows investors to take advantage of the Buy / Sell transactions from minimum / maximum levels throughout the day.

EUR / USD analysis

Current Price: 1.11660

Resistance Level 1: 1.11770
Resistance Level 2: 1.11875
Resistance Level 3: 1.11980
Resistance Level 4: 1.12085

Support Level 1: 1.11550
Support Level 2: 1.11445
Support Level 3: 1.11340
Support Level 4: 1.11235