empty
 
 
en
Support
Instant account opening
Trading Platform
Deposit/Withdraw

18.01.202200:44 Forex Analysis & Reviews: EUR/USD: temporary decline could be over soon

Exchange Rates 18.01.2022 analysis

EUR/USD New Upside Momnentum?

The EUR/USD pair dropped a little after registering strong upwards movement. A temporary decline was somehow expected. As long as it stays above the 1.1388 and 1.1366 former highs, EUR/USD could still resume its upwards movement towarda 1.1500 psychological level.

In the short term, it could only test and retest the broken obstacles, the resistance levels turned into support. You already knew from my analyses that, the currency pair could develop an upside reversal if it escapes from the range pattern between 1.1238 and 1.1366 levels.

EUR/USD Trading Conclusion!

After the most recent growth, a minor retreat was natural. In my opinion, only dropping and stabilizing below 1.1366 could invalidate an upside continuation. The current decline could be over if the rate stays above the immediate downside obstacles (1.1388, 1.1366).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Ralph Shedler,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.