FX.co ★ Trading Signal for EUR/USD for January 28 - 29, 2021: Buy above 1.2085

The EUR / USD pair, yesterday Wednesday has touched new lows near 1.2060. On this morning of the American session we see that the pair is consolidating above 3/8 Murray, although the bullish stance prevails in the medium and longer terms for now.

That said, the pair in 1 hour charts is facing the 200 EMA at 1.2130, if it exceeds this zone, there would be no relevance levels until the 4/8 murray around 1.2207.

In the event that sellers take over the market, we see the initial containment zone at the year low around 1.2050. Looking down we note the psychological level of 1.2000, but first we should see a consolidation below 1.2085, if the pair trades below this level, the downward pressure could accelerate the fall of the pair.

The EUR / USD pair is trading at 1.2109, above the SMA of 21 in 1 hour charts, as long as the pair remains above this level and is poor above the 3/8 murray, we can buy with targets in the 4/8 of murray around 1.2207.

For now the bullish force is prevailing, as the eagle indicator is giving a bullish signal on 1 hour charts, therefore we recommend buying at current price levels.

The market sentiment shows a percentage of 58.42% of operators that are selling the EUR / USD pair, this is a sign that the bullish force is still in the market, therefore our recommendations to buy with abjectives in the medium term up to 1.2207.

Support And Resistance Levels For January 27 - 28, 2021

Resistance (1) 1.2137

Resistance (2) 1.2167

Resistance (3) 1.2221

Support (1) 1.2085

Support (2) 1.2056

Support (3) 1.2003

Trading tip for EUR/USD for January 28 - 29, 2021

Buy if rebound around 1.2085 (3/8) with take profit at 1.2130 and 1.2207 (4/8), stop loss below 1.2050.

Buy above 1.2130 (EMA 200) with take profit at 1.2207, stop loss below 1.2085.