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EUR/USD Could Move Lower

By TickmillForexJan 13, 2022 02:55AM ET
www.investing.com/analysis/eurusd-could-move-lower-200614591
EUR/USD Could Move Lower
By Tickmill   |  Jan 13, 2022 02:55AM ET
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Type: Bearish reversal

Key Levels: Resistance: 1.15137, pivot: 1.14603, and support: 1.13846

Preferred Case: With EUR/USD approaching the resistance of the stochastics indicator, we are bias that price will drop from our pivot at 1.14603 in line with the 161.8% Fibonacci extension and swing high resistance to 1st support at 1.13846 in line with 38.2% Fibonacci retracement and horizontal overlap support.

Alternative Scenario: Alternatively, the price may break the pivot structure and head for 1st resistance at 1.15137 in line with the horizontal overlap resistance.

EUR/USD 4-hour chart.
EUR/USD 4-hour chart.



EUR/USD Could Move Lower
 

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EUR/USD Could Move Lower

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Turay Bitrus
Turay Bitrus Jan 13, 2022 3:18AM ET
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