EURUSD – Daily Analysis – 26th January, 2016

Date: 26th January, 2016

Currency Pair: EURUSD

EURUSD turned flat, reflecting lack of direction at current levels. Yesterday the pair has made a good progress. But the momentum is not strong at the moment which could help the pair for further advancement. The immediate resistance can be found at 1.0874 followed by 1.0898 and then 1.0941.

On the downside 1.0807 is 1st support for today. Subsequently, 1.0764 and 1.0740 are other support levels.

EURUSD is muted and showing no actual directional strength. We can expect some good movements during EURO session. Yesterday we’ve seen some bullish move from the pair. Further recovery is only possible once the pair crosses 1.0874 which is the immediate resistance for today. Beas is bullish above 1.0874 price level.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD HPI m/m Low 0.4% 0.5%
USD S&P/CS Composite-20 HPI y/y Low 5.7% 5.5%
USD Flash Services PMI Low 53.9
USD CB Consumer Confidence High 96.6 96.5
USD Richmond Manufacturing Index Low 3 6

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
EURUSD 1.0807 1.0764 1.0740 1.0874 1.0898 1.0941
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