EURUSD Technical Analysis 23-01-18

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As we see over from previous charts, we are still holding our previous model for EURUSD.

The Euro managed to sustain trading above the support point of 1.2180 where, as long as market holds above this zone, the uptrend wave will continue over the short-term.

However, should the market close from the resistance zone of 1.2300-35 a drop correction may occur as we advised last week. A drop towards 1.2080 could be possible.

Intraday levels still show that there is a chance for a continued uptrend wave, as long as the market holds above 1.2180, where more advances towards 1.2380 are to hand.

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

Support Resistance
Level 1 1.2170-80 1.2300-35
Level 2 1.2130 1.2380
Level 3 1.2080 1.2450


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