EUR/USD Forecast weekly, 1/10 – 1/14

The pair is trading along a downtrend. It has reached key support level by now, which means there is a potential of the market’s upside towards resistance 1.2980 and also probably 1.3110. An uptrend can be expected to start either from current levels or upon the fact of further pair’s upside above resistance 1.2930, which will be followed by strengthened upside momentum pushing the pair towards resistance 1.2980. Should the pair continue rising above 1.2980, we will expect it to reach key resistance 1.3110.

A downtrend is supposed to start upon the pair gets under support level 1.2875, which will be followed by moving down to support level 1.2860 and then to 1.2400.

EURUSD Chart 1

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS