EUR/USD Forecast Jan. 18-22 2021 – Euro Slides As Us Dollar Shows Strength

EUR/USD Technical analysis

Technical lines from top to bottom:

We start with resistance at 1.2328.

1.2224 has held in resistance since April 2018.

1.2156 has switched to a support level after strong gains by EUR/USD last week.

1.2099 is protecting the 1.21 line. It is an immediate support level.

1.1970 (mentioned last week) has provided support since early December.

1.1844 is next.

1.1768 is the final support line for now.

I am bearish on EUR/USD

The euro enjoyed strong gains late in the year, as the US dollar turned into a punching bag. However, the greenback has rebounded in the New Year, and this upswing could continue this week.

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