EURUSD Forecast and Technical Analysis 01-22-2018
Next Thursday ECB’s meeting will take place and is quite probable that Draghi will focus on down talking the EUR, as EU policymakers have clearly signalled that they don’t want the pair above 1.2000.
At midnight Friday, and after the Senate failed to pass the bill earlier approved by the House, the US government shutdown officially began. The House passed a bill to extend the government funding until February 16th, but Democrats and Republicans couldn’t agree over funding DACA and migrants’ protection.
This shutdown means that many US government´s activities will come to a halt until the funding for such activities is approved. Multiple non-essential offices will be closed, and their employees furloughed. The shutdown affects museums and national parks, but also health and regulatory agencies, some of which that will anyway remain open, but will work with a minimal stuff.
EURUSD Forecast And Technicals
On the H4 chart, RSI headed south and closed at neutral territory. EURUSD ended the week 1.22160.
Price is above EMA 50 AND 100. However, EURUSD closed the day in the lower Bollinger Band.
1.22000 is the intraday support. If it breaks 1.2200, 1.21600 can be re-tested.
On the H1 chart; price moved below EMA 50 and EMA 100. It is likely we will see the pair testing 1.21600 on Monday if it breaks 1.22000.
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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.
If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.
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- All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly
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