EURUSD Technical Analysis 22-01-18

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Euro managed to sustain its trade above the support level of 1.2180 where, as long as market holds above this zone, the uptrend wave is likely to continue in the short-term.

However, the market closing at the resistance point of 1.2300-35 may provide a drop correction as we described previously. A drop towards 1.2080 is also a possibility as described last week.

Intraday levels still show a chance for a continued uptrend wave as long as the market holds above 1.2180, where more advancement toward 1.2380 is occuring.

1.2180 will be the mid point between continuing the uptrend wave toward 1.2380 or a farther drop correction towards 1.2080.

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