FX.co - EUR/USD analysis for January 24, 2022 - Key pivot level at 1.1300 on the test

2022-01-24T12:45:19

Relevance until2022-01-25

Technical analysis:

EUR/USD analysis for January 24, 2022 - Key pivot level at 1.1300 on the test

EUR/USD has been trading downside today and the key support at the price of 1,1300 is on the test.

Trading recommendation:

Watch carefully for the price action around the key pivot at 1,1300 to confirm further direction.

Strong downside breakout of key support at 1,1300 can lead EUR towards 1,1275 and 1,1240

Strong rejection of the key support at 1,1300 can lead EUR back towards 1,1360

Additionally, there is the breakout of the rising trend line in the background.

*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 24, 2022 - Key pivot level at 1.1300 on the test