Technical Analysis EUR/USD 08 January

2020-01-08

Today's technical analysis is on January 08, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels of 1.11605 - 1.11920; therefore, it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.11100 - 1.10615 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.11385 where the Fibonacci levels indicate. The MACD histogram has crossed the zero line from top to bottom, is now located in the negative zone and below its signal line, continues to smoothly decline and thereby gives a sell signal. Stochastic Oscillator is near the oversold zone and does not form any clear signals at the moment. In an alternative scenario, you should wait for the breakdown of the strong resistance level of 1.11710, then the levels of 1.12110 - 1.12615 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: 1.11490

Resistance Level 1: 1.11605
Resistance Level 2: 1.11710
Resistance Level 3: 1.11815
Resistance Level 4: 1.11920

Support Level 1: 1.11385
Support Level 2: 1.11280
Support Level 3: 1.11175
Support Level 4: 1.11065