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14.01.202221:13 Forex Analysis & Reviews: January 14, 2021 : EUR/USD Intraday technical analysis and trading plan.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 14.01.2022 analysis

The bullish swing that originated around 1.1650 in August, failed to push higher than the price level of 1.1900. That's why, another bearish pullback towards 1.1650 was executed.

However, extensive bearish decline has pushed the EURUSD pair towards 1.1600 and lower levels was reached.

Shortly after, significant bullish recovery has originated upon testing the price level of 1.1570.

The recent bullish pullback towards 1.1650-1.1680 was expected to offer bearish rejection and a valid SELL Entry.

Significant bearish decline brought the EURUSD pair again towards 1.1550 levels which stood as an Intraday Support zone. Hence, sideway movement was demonstrated until quick bearish decline occurred towards 1.1200.

Please note that any bullish movement above 1.1500 should be considered as an early exit signal to offset any SELL trades.

The price levels around 1.1520 remain a reference zone that needs to be re-visited when the current bearish momentum ceases to dominate.

Mohamed Samy
Analytical expert of InstaForex
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