EUR/USD Technical Forecast
As of January 25, the EUR/USD is experiencing a slight uptick, trading at 1.08854, marking a 0.04% increase. The currency pair orbits a pivot point at 1.09074, indicative of a potential shift in market direction. Resistance levels are poised at 1.09528, 1.09939, and 1.10383, creating ceilings that may restrain any bullish momentum. Support levels, conversely, lie at 1.08531, 1.08209, and 1.07723, offering potential buffers against downward movements.
The pair’s positioning below both the 50-Day and 200-Day Exponential Moving Averages, at 1.08959 and 1.09073 respectively, suggests a bearish undertone. However, a morning star pattern on the 4-hour chart hints at possible buying interest.
Overall, the EUR/USD trend appears cautiously optimistic above 1.0870, yet remains susceptible to shifts influenced by external market factors and technical indicators.
GBP/USD Technical Forecast
On January 25, the GBP/USD pair saw a slight increase of 0.02%, trading at 1.27219. Currently hovering around the pivot point at 1.27031, the pair shows potential for further movement. The key resistance levels are set at 1.27469, 1.27844, and 1.28198, marking potential barriers for upward price action.
On the downside, support can be found at 1.26496, followed by 1.26249 and 1.25964, which could offer a buffer against any declines. Technical analysis reveals that the GBP/USD is garnering support near the 50-Day Exponential Moving Average (EMA) of 1.27080, slightly above the 200-Day EMA of 1.26652.
Notably, the pair has formed a morning star candlestick pattern on the four-hour timeframe, suggesting a bullish trend may be on the horizon, particularly if it stays above the pivot point. In conclusion, the technical outlook for GBP/USD appears to be bullish above the pivot point of $1.27031.
The GBPUSD pair leans on the EMA50 and begins to provide positive trades now, which supports the continuation of the expected bullish trend for today, which targets 1.2825 areas .
Intraday bias in GBP/USD stays neutral first as consolidation from 1.2826 is still extending. Deeper pull back cannot be ruled out. But downside should be contained above 1.2499 support to bring rebound. On the upside, firm break of 1.2784 resistance will suggest that consolidation pattern has completed. Further rise should be seen through 1.2826 to resume the rise from 1.2036. Next target will be 1.3141 high.
In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Rise from 1.2036 is seen as the second leg that’s in progress. Upside should be limited by 1.3141 to bring the third leg of the pattern. Meanwhile, break of 1.2499 support will argue that the third leg has already started for 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 again.
Immediate focus is now on 1.2784 minor resistance in GBP/USD. Decisive break there will suggest that consolidation pattern from 1.2826 has completed. Further rise should be seen through 1.2826 to resume the rise from 1.2036. Next target will be 1.3141 high. in case of another fall, downside should be contained above 1.2499 support to bring rebound.
As of January 25, the EUR/USD is experiencing a slight uptick, trading at 1.08854, marking a 0.04% increase. The currency pair orbits a pivot point at 1.09074, indicative of a potential shift in market direction. Resistance levels are poised at 1.09528, 1.09939, and 1.10383, creating ceilings that may restrain any bullish momentum. Support levels, conversely, lie at 1.08531, 1.08209, and 1.07723, offering potential buffers against downward movements.
The pair’s positioning below both the 50-Day and 200-Day Exponential Moving Averages, at 1.08959 and 1.09073 respectively, suggests a bearish undertone. However, a morning star pattern on the 4-hour chart hints at possible buying interest.
Overall, the EUR/USD trend appears cautiously optimistic above 1.0870, yet remains susceptible to shifts influenced by external market factors and technical indicators.
GBP/USD Technical Forecast
On January 25, the GBP/USD pair saw a slight increase of 0.02%, trading at 1.27219. Currently hovering around the pivot point at 1.27031, the pair shows potential for further movement. The key resistance levels are set at 1.27469, 1.27844, and 1.28198, marking potential barriers for upward price action.
On the downside, support can be found at 1.26496, followed by 1.26249 and 1.25964, which could offer a buffer against any declines. Technical analysis reveals that the GBP/USD is garnering support near the 50-Day Exponential Moving Average (EMA) of 1.27080, slightly above the 200-Day EMA of 1.26652.
Notably, the pair has formed a morning star candlestick pattern on the four-hour timeframe, suggesting a bullish trend may be on the horizon, particularly if it stays above the pivot point. In conclusion, the technical outlook for GBP/USD appears to be bullish above the pivot point of $1.27031.
The GBPUSD pair leans on the EMA50 and begins to provide positive trades now, which supports the continuation of the expected bullish trend for today, which targets 1.2825 areas .
Intraday bias in GBP/USD stays neutral first as consolidation from 1.2826 is still extending. Deeper pull back cannot be ruled out. But downside should be contained above 1.2499 support to bring rebound. On the upside, firm break of 1.2784 resistance will suggest that consolidation pattern has completed. Further rise should be seen through 1.2826 to resume the rise from 1.2036. Next target will be 1.3141 high.
In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Rise from 1.2036 is seen as the second leg that’s in progress. Upside should be limited by 1.3141 to bring the third leg of the pattern. Meanwhile, break of 1.2499 support will argue that the third leg has already started for 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 again.
Immediate focus is now on 1.2784 minor resistance in GBP/USD. Decisive break there will suggest that consolidation pattern from 1.2826 has completed. Further rise should be seen through 1.2826 to resume the rise from 1.2036. Next target will be 1.3141 high. in case of another fall, downside should be contained above 1.2499 support to bring rebound.
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