EURUSD Going Back To Resistance Level 1.1105 While Trading Above Support Level 1.1076

EUR/USD, 6E futures market, Tuesday forecast, January 21

Uptrend

The uptrend may be expected to continue, while the EUR/USD pair is trading above support level 1.1121 - 1.1115, which will be followed by reaching resistance level 1.1145.

Downtrend

A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1115, which will be followed by moving down to support level 1.1080.

(Click on image to enlarge)

EUR/USD spot market, Tuesday forecast, January 21

Uptrend

The uptrend may be expected to continue, while the EUR/USD pair is trading above support level 1.1076, which will be followed by reaching resistance level 1.1105.

Downtrend

A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1076, which will be followed by moving down to support level 1.1040.

(Click on image to enlarge)

Weekly forecast, January 20 - 24

Most important news of this week

• Monday: United States - Martin Luther King, Jr.
• Tuesday: EU ZEW Economic Sentiment (Jan)
• Wednesday: US Existing Home Sales (Dec)
• Thursday: EU Deposit Facility Rate (Jan), EU ECB Monetary Policy Statement, EU ECB Press Conference, Crude Oil Inventories
• Friday: EU German Manufacturing PMI (Jan), EU Manufacturing PMI (Jan), US Manufacturing PMI (Jan)

Forecast and technical analysis

Downtrend

The downtrend may be expected to continue in case the market drops below support level 1.1080, which will be followed by reaching support level 1.1017.

Uptrend

An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1105, which will be followed by moving up to resistance level 1.1150 and 1.1170.

(Click on image to enlarge)

Monthly forecast, January - February

Downtrend

The downtrend may be expected to continue, while the EUR/USD pair is trading below resistance level 1.1200, which will be followed by reaching support level 1.1075 and 1.1020.

Uptrend

An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1200, which will be followed by moving up to resistance level 1.1270 and 1.1370.

(Click on image to enlarge)