THE EUR/USD CURRENCY PAIR IS CONSOLIDATING AFTER A SURGE OF BULLISH SENTIMENT

Posted 13 January, 2022

Paying attention to the 4-hour chart, you can see that: on Wednesday, the breakdown of the local max 1.13855 led to a noticeable increase in bullish sentiment, and our first target (1.1442) was reached during the American session. The growth of quotes slowed down only at around 1.1452, after which consolidation began.

 

The EUR/USD currency pair is consolidating after a surge of bullish sentiment...

 

EUR/USD

 

Now let's look at the indicators:

The rate of the currency pair has significantly moved away from the moving averages with periods of 34, 55, 89, and 144, which are directed upwards and indicate continued bullish sentiment (in the medium term), as well as a number of support levels at 1.1344, 1.13345, 1.13285 and 1.13145.

The MACD histogram is still in the positive zone and is already well above its signal line, continues to rise intensively, and thus gives a signal to buy the euro ( EUR ).

The Stochastic Oscillator is in the overbought area and is forming an opposite signal as the %K line falls below the %D line.

Due to the contradiction in the signals that the indicators give, as well as the ongoing consolidation, as confirmation In order for the bullish sentiment in the EUR/USD currency pair to increase again in the forex market, it is necessary to wait for the breakdown of the mirror level 1.14495 (its significance is better seen on the daily chart ), which can open the way to the levels 1.1478, 1.1529 and 1.15525.

 Otherwise, the bears may seize the initiative, and their targets will be the levels 1.1409, 1.13725, and 1.13535. 

Resistance levels 1.14495 , 1.1452, 1.1478 , 1.1529, 1.15525, 1.15925 

Current price : 1.1443

Previous forecast

14 January, 2022 09:12

← AFTER A SHORT CORRECTION, THE GROWTH OF EURO (EUR) RESUMED

Paying attention to the 4-hour chart, you can see that: since the beginning of the current day, bullish sentiment has dominated the EUR/USD currency pair. The rate of the currency pair is in the area of ​​local max, while there are no significant visible resistance levels

AFTER A SHORT CORRECTION, THE GROWTH OF EURO (EUR) RESUMED

Next forecast

12 January, 2022 09:29

BRITISH POUND TRADES THE MULTI-MONTH MAX AREA →

Since the American session on Tuesday, bullish sentiments dominate in the GBP / USD currency pair.

BRITISH POUND TRADES THE MULTI-MONTH MAX AREA
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