EURUSD – Daily Analysis – 25th January, 2016

Date: 25th January, 2016

Currency Pair: EURUSD

EURUSD is in a corrective mode at current levels. After losing in a row in last couple of trading sessions the pair is now trying to stable at current levels. We can see small reversal pattern in 4 hours technical chart. The immediate resistance is seen at 1.0853 followed by 1.0908 and 1.0941.

On opposite 1.0765 is offering a strong support. Below this level we can find other support levels at 1.0732 and 1.0677.

Despite of falling in a row in last couple of trading sessions EURUSD has been trading in a very narrow range. If we look at the technical chart then we’ll find strong ranges are capped between 1.0973 towards up and 1.0765 towards down. We can’t see any confirmed trend at this time. For a clear reversal the price must cross 1.0853 price level which is 1st resistance for today. I’m bullish above 1.0853 price level.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
EUR German Ifo Business Climate High 108.5 108.7
EUR Italian Retail Sales m/m Low 0.2% -0.3%
EUR German Buba Monthly Report Low
EUR Belgian NBB Business Climate Low -1.9 -1.4
EUR ECB President Draghi Speaks High

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
EURUSD 1.0765 1.0732 1.0677 1.0853 1.0908 1.0941
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