EURUSD Daily Forecast Jan 23 2020

EURO - dollar - 65985-

EURUSD: Bearish Ahead of ECB Meeting Minutes… 

As long as 1.1140/1.1170 resistance holds on a daily closing basis. The EURUSD remains on the downside to 1.1040 levels. A halt is likely, it may test 1.1070 before attempts to break lower. Anyway; Below 1.1040 aims the 1.0990 level, further down, support comes in the 1.0930 level.

A daily closing above 1.1097 will activate the recovery mode and pave the way to 1.1140/1.1170 levels…

On the upside, immediate resistance comes at 1.1097 level. Above 1.1097 – daily closing – sees recovery threats to 1.1140/1.1170 levels where another fall is likely. However; A sustained break above 1.1170 will extend the corrective recovery to 1.1207/1.1228 levels.

In conclusion: The EURUSD sees downside threats below 1.1097 levels. Above 1.1097 sees recovery threats to 1.1140/1.1170 levels…

Support: 1.1070, 1.1040, 1.0990, 1.0930

Resistance: 1.1097, 1.1141, 1.1170, 1.1228

Key data/events which may affect EURUSD today:

The European Central Bank will announce its benchmark interest rate and publish a rate statement today at 12:45 GMT. The interest rate is expected to remain the same as the previous month at 0.00%. The ECB will hold a press conference at 13:30 GMT. Volatility is expected.

EURUSD Daily Forecast Jan 23 2020