Technical Analysis on EUR/USD 05th of January


Today's technical analysis on January 5, the EUR / USD pair is dominated by bullish sentiments to complete consolidation in the Asian session, at strong support levels of 1.20570 - 1.19520 therefore it is desirable to wait for a breakdown of a strong resistance level that can open the way to the levels 1.21500 - 1.22300, within the London and New York sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.20850 to where the Fibonacci levels indicate. The MACD histogram is located in the positive area but does not give clear signals. Stochastic Oscillator has reached the boundary of the overbought zone and also does not give signals. In the event of a breakdown of a strong support level of 1.20570, a bearish scenario awaits us, where investors will be targeted at levels of 1.19900 - 1.19050.

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


Analysis of EUR / USD

Current price: 1.20705

Resistance level 1: 1.20850
Resistance level 2: 1.21050
Resistance level 3: 1.21150
Resistance level 4: 1.22050

Support level 1: 1.20570
Support Level 2: 1.20250
Support level 3: 1.20050
Support Level 4: 1.19520