31.01.202415:56 Forex Analysis & Reviews: Trading Signals for EUR/USD on January 31, 2024: buy above 1.0836 (21 SMA - 200 EMA)

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Early in the American session, the Euro is trading around 1.0834, around the 21 SMA, and within the downtrend channel forming since January 9. We can see on the chart that EUR/USD has been consolidating after reaching the low of 1.08. If EUR/USD breaks the secondary bearish channel, we could expect it to reach 1.0890 in the next few hours. This level coincides with the 200 EMA and the top of the downtrend channel, which could offer strong resistance.

In the next few hours, the Federal Reserve is due to announce its policy decision which could favor the recovery of the euro. If the Fed confirms the dovish reversal, the euro could gain strong momentum and approach 1/8 of Murray located at 1.0864 and finally could try to break the downtrend channel.

If bullish strength prevails, the euro could consolidate above 1.0890 which could be seen as an opportunity to buy. Thus, in the short term, it could reach 2/8 Murray at 1.0986.

If the Euro remains below 1.0836 in the coming hours, the outlook could be negative and we could expect EUR/USD to continue falling. The price could reach the bottom of the downtrend channel around 1.0783 and even 0/8 Murray at 1.0742.

The eagle indicator is giving a slightly positive signal which could offer an opportunity to buy just in case the euro consolidates above 1.0836 (21 SMA).

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.