Technical Analysis EUR/USD 07 January

2020-01-07

Today's technical analysis is on January 07, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels 1.12025 - 1.12345 therefore it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.11535 - 1.11030 within the framework of London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.11815 where the Fibonacci levels indicate. The MACD histogram is located in the positive zone and above its signal line, continues to rise smoothly and thereby gives a buy signal. Stochastic Oscillator is in the overbought zone and forms the opposite signal, although it is not yet clear. In an alternative scenario, you should wait for the breakdown of the strong resistance level of 1.12135, then the levels of 1.12530 - 1.12980 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: 1.11920

Resistance Level 1: 1.12025
Resistance Level 2: 1.12135
Resistance Level 3: 1.12240
Resistance Level 4: 1.12345

Support Level 1: 1.11815
Support Level 2: 1.11710
Support Level 3: 1.11605
Support Level 4: 1.11500