EURUSD Daily Analysis – January 20, 2015
EURUSD remains in downtrend from 1.2569, the rise from 1.1459 is likely consolidation of the downtrend.
EURUSD remains in downtrend from 1.2569, the rise from 1.1459 is likely consolidation of the downtrend.
GBPUSD remains in downtrend from 1.5785, the rise from 1.5034 is likely consolidation of the downtrend.
EURUSD’s downward movement from 1.2569 extended to as low as 1.1744.
The AUDUSD pair rose during the course of the session on Wednesday, but gave back a little bit of the gains as you can see.
AUDUSD broke above 0.8214 resistance, indicating that consolidation of the downtrend from 0.8910 (Oct 29, 2014 high) is underway.
GBPUSD is showing signs of a pullback, as price previously found support near the 1.5000 major psychological level. Using the Fibonacci retracement tool on the latest swing high and low on the 4-hour time frame indicates that the 61.8% Fibonacci level lines up with a former support zone.
EURUSD’s downward movement from 1.2569 extended to as low as 1.2132.
The AUDUSD pair as you can see broke higher during the session on Monday, but turned back around to form a shooting star.
AUDUSD remains in downtrend from 0.8795, the rise from 0.8087 is likely consolidation of the downtrend.
EURUSD is now in downtrend from 1.2569, and the fall extended to as low as 1.2166.