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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Technical analysis of EUR/USD for January 28, 2022
09:35 2022-01-28 UTC--5
Exchange Rates analysis

Overview :

Yesterday, the EUR/USD pair reached a new minimum at the price of 1.1130. So, today the price may reach one more minimum around the spot of 1.1130, which coincides with the double bottom.

Today, the EUR/USD pair is challenging the psychological resistance at 1.1212. Hence, the resistance is seen at the level of 1.1212 in the one-hour time frame.

We expect the EUR/USD pair to continues moving in a downtrend below the level of 1.1212 towards the first target at 1.1089, while major resistance is found at 1.1264 (38.2% Fibonacci Expansion).

On the downside, a clear break at the level of 1.1128 could trigger further bearish pressure testing 1.1089, which represents the major support today.

As a result, it is gainful to sell below this price of 1.1160 with targets at 1.1089 and 1.1054. However, the bullish trend is still expected for the upcoming days as long as the price is above 1.1264.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.