EURUSD Technical Analysis (19-23 January,2015) | January 18, 2015

EURUSD resumed its falling and broke its critical support. 1.1750 was important support area for this pair. After breaking this support, its fall extend below 1.1500 area. Next target for this pair will be 1.1200 area.


In weekly chart, this pair is clear downtrend. This pair has formed 4 consecutive big bearish candle. It is showing its bearish power on weekly chart. So for long term our recommend is to stay on the downside.


In daily chart, this pair is also on downward momentum. It fell more than 300 pips last two trading days. So daily chart also showing its bearish momentum.


Weekly bias remains downside for this pair. Selling area for this pair is 1.1730-1.1750 area. On the chart, we can see that 1.1640 -1.1650 area is acting as good resistance for this pair. So this is nice area for sell on this pair.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1.2041

Resistance One (R1): 1.1803

Pivot Point: 1.1630

Support One (S1): 1.1392

Support Two (S2): 1.1219