EUR/USD May Start Uptrend Above Resistance Level At 1.1124 With A Target On 1.1149, 1.1172

EUR/USD, Monday forecast, January 13

Uptrend

An uptrend will start as soon, as the EUR/USD pair rises above resistance level 1.1124, which will be followed by moving up to resistance level 1.1172.

Downtrend

A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1105, which will be followed by moving down to support level 1.1080.

Weekly forecast, January 13 - 17

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• Tuesday: US Core CPI (YoY) (Dec)
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• Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
• Friday: EU Core CPI (YoY) (Dec)

Forecast and technical analysis

Uptrend

The uptrend may be expected to continue, while the EUR/USD pair is trading above support level 1.1080, which will be followed by reaching resistance level 1.1170.

Downtrend

A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1080, which will be followed by moving down to support level 1.1017 - 1.0988.

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.