EURUSD - Outlook for Week Commencing 13/01/2025
Bias for Week commencing 13/01/2025
The chart shows a clear downtrend, as indicated by:
Key Support and Resistance Levels
Support Levels:
1.0230–1.0250: Immediate support zone where price has recently reacted.
1.0150: A lower significant support level, visible as a historical pivot point.
Resistance Levels:
1.0350: Near the upper boundary of the descending channel.
1.0450: A higher resistance zone and an earlier swing high.
Scenario 1: Continuation of the Downtrend
Entry: Sell below 1.0230 (on confirmation of a breakdown).
Stop Loss (SL): Set above the 1.0280 resistance.
Take Profit (TP):
TP1: 1.0150 (next support zone).
TP2: 1.0100 (extension of bearish move).
Scenario 2: Pullback to Resistance
Entry: Sell near 1.0350 (if price retraces to this resistance).
Stop Loss (SL): Set above 1.0400.
Take Profit (TP):
TP1: 1.0250 (current support zone).
TP2: 1.0150 (next major support).
Scenario 3: Bullish Reversal
Look for a breakout above 1.0350 with strong bullish momentum to consider buys.
Entry: Buy above 1.0350 on confirmation.
Stop Loss (SL): Below 1.0300.
Take Profit (TP):
TP1: 1.0450 (next resistance).
TP2: 1.0500 (upper channel boundary).
If you found this analysis helpful, please consider boosting and following for more updates.
Disclaimer: This content is for educational purpose only and should not be considered financial advice.
The chart shows a clear downtrend, as indicated by:
- Lower highs and lower lows
- The price is trading below key resistance levels and within a descending channel (yellow lines)
- The histogram and oscillator suggest bearish momentum
Key Support and Resistance Levels
Support Levels:
1.0230–1.0250: Immediate support zone where price has recently reacted.
1.0150: A lower significant support level, visible as a historical pivot point.
Resistance Levels:
1.0350: Near the upper boundary of the descending channel.
1.0450: A higher resistance zone and an earlier swing high.
Scenario 1: Continuation of the Downtrend
Entry: Sell below 1.0230 (on confirmation of a breakdown).
Stop Loss (SL): Set above the 1.0280 resistance.
Take Profit (TP):
TP1: 1.0150 (next support zone).
TP2: 1.0100 (extension of bearish move).
Scenario 2: Pullback to Resistance
Entry: Sell near 1.0350 (if price retraces to this resistance).
Stop Loss (SL): Set above 1.0400.
Take Profit (TP):
TP1: 1.0250 (current support zone).
TP2: 1.0150 (next major support).
Scenario 3: Bullish Reversal
Look for a breakout above 1.0350 with strong bullish momentum to consider buys.
Entry: Buy above 1.0350 on confirmation.
Stop Loss (SL): Below 1.0300.
Take Profit (TP):
TP1: 1.0450 (next resistance).
TP2: 1.0500 (upper channel boundary).
If you found this analysis helpful, please consider boosting and following for more updates.
Disclaimer: This content is for educational purpose only and should not be considered financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.