EURUSD Daily Forecast Jan 08 2020

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EURUSD: Sees Corrective Pullback Threat…

As long as 1.1200 resistance holds on a daily closing basis. The EURUSD sees corrective pullback threats and further down couldn’t be ruled out. Support comes at 1.1124 ahead of 1.1093 levels. A halt is likely but a cut would open 1.1038 next, further down, support comes at 1.1000 levels.

Note: A daily closing – sustained breakout – below 1.1124 ( high of Dec 20, 2019/ broken resistance turned support) will accelerate the corrective pullback)…

On the upside, immediate resistance comes at 1.1155 ahead of 1.1200 level (main). Above 1.1200 will restore the upside momentum and pave the way to 1.1245/1.1315 levels.

In conclusion: The EURUSD sees corrective pullback threats below 1.1200 levels. Only a daily closing back above 1.1200 will invalid this view…

Support:1.1124, 1.1093, 1.1038, 1.1000, 1.0950

Resistance: 1.1155, 1.1200, 1.1245, 1.1315, 1.1395

Key data/events which may affect EURUSD today:
  • U.S ADP Nonfarm Employment Change (Dec) at 13:15 GMT (Moderate).

EURUSD Daily Forecast Jan 08 2020

MARKET DATA

UPCOMING ECONOMIC EVENTS