FX.co - EUR/USD analysis for January 18, 2022 - Downside breakout and potential for bigger drop

2022-01-18T12:38:03

Relevance until2022-01-19

Technical analysis:

EUR/USD analysis for January 18, 2022 - Downside breakout and potential for bigger drop

EUR/USD has been trading downside and the EUR is testing key support at 1,1385. There is potential for the downside movement towards the mean.

Trading recommendation:

Due to the breakout of the consolidation and the downside movement towards key support I see potential for thee bigger downside movement.

Watch for selling opportunities with the downside targets at 1,1355 and 1,1320

Key resistance is set at the price of 1,1432

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for January 18, 2022 - Downside breakout and potential for bigger drop