Indicator analysis: Daily review on EUR / USD for January 15, 2020

The pair continued to move in the side channel on Tuesday and initially moved up the market and re-tested the pullback level of 38.2% which is equivalent to 1.1146 presented in a blue dashed line. After that, the market rolled back down reaching the pullback level of 50% which is at 1.1112 presented in a red dashed line. Strong calendar news for the dollar is expected today at 13:30 and 15:30 UTC. Expected to continue to work up.

Trend analysis (Fig. 1).

The price may continue to move up today with the first target 1.1146, the retracement level of 38.2% presented in a blue dotted line. Upon reaching this line, the next goal will be a pullback level of 50.0% equivalent to 1.1164 presented in a blue dashed line.

Fig. 1 (daily chart).

Comprehensive analysis:

– Indicator analysis – up;

– Fibonacci levels – up;

– Volumes – up;

– Candlestick analysis – up;

– Trend analysis – up;

– Bollinger Lines – up;

– Weekly schedule – up.

General conclusion:

An upward trend is possible today.

An unlikely, but quite possible scenario is from level 21 of the average EMA which is at 1.1132 presented in a black thin line, the price goes down to the support line 1.1094, presented in a white bold line.

The material has been provided by InstaForex Company –

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Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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