21.01.202115:57 Forex Analysis & Reviews: Trading Signal for EUR/USD for January 21 - 22, 2021: Bearish Pressure

The EUR / USD pair maintains the bullish bias and faces resistance near the area of, the 200 EMA around 1.2177, and the 4/8 of murray at 1.2207. A confirmation of 1.2207 could anticipate more increases.

In the opposite direction, below 1.2177, where the 200 exponential moving average is, the intraday bias would turn to neutral / bearish.

The EUR / USD pair is located below the 200 EMA, the downward pressure still remains below 1.2207, therefore any attempt to break this level, and is rejected, we can have selling opportunities.

Above 1.2207, in the graph we have highlighted in red, that area is a buy zone, therefore, we must expect a consolidation above this level and buy with targets at 5/8 murray around 1.2329.

The eagle indicator in 4-hour charts is entering the overbought zone, it is most likely that we will see a correction of the pair, in the next few hours.

The market sentiment report for today, January 20, shows 54.20% of operators are selling the EUR / USD pair, this is a sign that the bearish force is prevailing, and we could see a potential drop in the next few days.

Support And Resistance Levels For January 21-22, 2021

Resistance (1) 1.2172

Resistance (2) 1.2194

Resistance (3) 1.2230

Support (1) 1.2112

Support (2) 1.2067

Support (3) 1.2025

Trading tip for EUR/USD for January 21-22, 2021

Sell if pullback to 1.2177 ( EMA 200) with take profit at 1.2125 and 1.2085, Stop loss above 1.2205.

Sell if pullback to 1.2207 ( 4/8 of murray) with take profit at 1.2125 and 1.2085, Stop loss above 1.2237.