EUR/USD Daily Chart Analysis For Week of Jan 24, 2025
Technical Analysis and Outlook:
The Eurodollar saw a significant increase during this week's trading session after successfully breaking through our resistance levels at 1.031 and 1.039 and is now resting at the previous weekly chart analysis charts identified as a resistance level of 1.051. We expect a rally towards the next key target, the Interim Inner Currency Rally, set at 1.060. However, this upward movement could lead to a temporary retracement towards the support level at 1.041 and may challenge the next significant support level at 1.024.
The Eurodollar saw a significant increase during this week's trading session after successfully breaking through our resistance levels at 1.031 and 1.039 and is now resting at the previous weekly chart analysis charts identified as a resistance level of 1.051. We expect a rally towards the next key target, the Interim Inner Currency Rally, set at 1.060. However, this upward movement could lead to a temporary retracement towards the support level at 1.041 and may challenge the next significant support level at 1.024.
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Related publications
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.