EURUSD Daily Forecast Jan 09 2020

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EURUSD: Still Sess Corrective Pullback Threats But With Caution!

As long as 1.1125/1.1162 resistance holds on a daily closing basis. The EURUSD remains in a corrective pullback mode and further down couldn’t be ruled out to 1.1093/1.1070 levels. At this point, I’d expect strong support from 1.1093/1.1070 where a rebound is very likely. Anyway; below 1.1070 sees further weakness to 1.1025 levels.

On the upside, immediate resistance comes at 1.1125 (broken support turned resistance). Above 1.1125 will bring limited gains below 1.1213/1.1162 where another fall is likely…

In conclusion: The EURUSD still faces fall threats below 1.1213 level…

Support: 1.1093, 1.1070, 1.1025, 1.0970, 1.0935

Resistance: 1.1125, 1.1162, 1.1213, 1.2950, 1.2995

Key data/events which may affect EURUSD today:
  • German Industrial Production (MoM) (Nov) at 07:00 GMT

EURUSD Daily Forecast Jan 09 2020