EUR/USD Will Continue The Downtrend Below Level 1.1100 To 1.0940

EUR/USD, 6E futures market

Wednesday forecast, January 29

Uptrend

An uptrend will start from support 1.1030, which will be followed by moving up to resistance level 1.1050 and 1.1060.

Downtrend

The downtrend may be expected to continue in case the market drops below support level 1.1030, which will be followed by reaching support level 1.1015 and 1.0970.

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EUR/USD spot market

Wednesday forecast, January 29

Uptrend

An uptrend will start from support 1.1100, which will be followed by moving up to resistance level 1.1017 and 1.107.

Downtrend

The downtrend may be expected to continue in case the market drops below support level 1.1100, which will be followed by reaching support level 1.0981 and 1.0940.

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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.

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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)