EUR/USD May Continue The Downtrend Below 1.1017 With A Target To 1.0980

EUR/USD, 6E futures market

Monday forecast, January 27

Downtrend

The downtrend may be expected to continue in case the market drops below support level 1.1050, which will be followed by reaching support level 1.1015.

Uptrend

An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1070, which will be followed by moving up to resistance level 1.1100.

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EUR/USD spot market

Monday forecast, January 27

Downtrend

The downtrend may be expected to continue in case the market drops below support level 1.1017, which will be followed by reaching support level 1.1098.

Uptrend

An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1036, which will be followed by moving up to resistance level 1.1061 - 1.1080.

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Weekly forecast, January 27 - 31

Most important news of this week

• Monday: EU German Ifo Business Climate Index (Jan), US New Home Sales (Dec)
• Tuesday: US Core Durable Goods Orders (MoM) (Dec)
• Wednesday: US Pending Home Sales (MoM) (Dec), Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
• Thursday: EU Unemployment Rate (Dec), US GDP (QoQ) (Q4)
• Friday: EU CPI (YoY) (Jan), GDP (YoY), US Michigan Consumer

Forecast and technical analysis

Downtrend

The downtrend may be expected to continue in case the market drops below support level 1.1017, which will be followed by reaching support level 1.0940.

Uptrend

An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1036, which will be followed by moving up to resistance level 1.1105.

(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 EUR/USD the 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)