24
Jan
2023

Forex Currency Trading And Forex

Friday’s Euro Dollar Market Analysis was accurate and the pair stopped only 6 pips before the level of resistance. however, then the pair began to fall towards 1.3936 and successfully reached the 1.3888 area. But still not tested the 1.3824 area on. At times, it appears that the euro before breaking the 1.4014 area, stopped at the line from the 1.4554 for the third consecutive time, so this line deserves attention. The key resistance level is at 1.3959 today. On the other hand the level of support is at 1.3867 Fibonacci level, and the breaking of any level will determine the trend for today. If it breaks the resistance level of 1.3959 1.4068 could test the first, and then you may be testing the 1.4139. On the other hand, the support level of 1.3867 could involve testing in the area of 1.3824, then it could test the 1.3747 mark. Support: a 1.3867: 61.8% Fibonacci level.

a 1.3824: Minimum of 19 December 2008. a 1.3747: Minimum of 16 June. Resistance: 1.3959 a : downtrend line of 1.4554. a 1.4068: 61.8% Fibonacci level. a 1.4139: 38.2% Fibonacci level.

Pound Dollar Friday’s report was very precise, as the market developed as expected. After breaking the uptrend line of 1.5830, which occurred in the area of 1.6107, the pound was hit hard and fell as expected, to settle at 1.6020. So we approach the second objective proposed in the 1.5919, and 1.5933 reached the minimum. It is clear that the area of 1.5919 will be the key support level today, and if it breaks that area, it could test the 1.5776 and beyond could test the 1.5720. But if the pound does a breath could break the resistance level of 1.6026. And it could start an upward correction to test the first of 1.6120 and then 1.6222. Support: 1.5919 a : Minimum of 22 December. a 1.5776: Minimum of 26 May. a 1.5720: Minimum of December 17, 2008. Resistance: 1.6026 a : 38.2% Fibonacci level. a 1.6120: Line 1.6076 upward trend. Dolar Yen The dollar-yen pair broke the resistance level specified on Friday, at 90.41, but stopped in the middle of the road, reaching 90.90. This hints that the pair did not take the necessary momentum and could continue a significant jump. Anyway, if the dollar continues to rise, we should follow closely the level of support of 89.94. And between the area of 90.36 & 89.94, was set out clearly the future trend. If it breaks the resistance zone of 90.36, we would observe a correction could test the 91.44 & 91.98. But if it breaks the support area of 89.94, could test the 89.12, and beyond could test the 88.60. Support: a 89.94: uptrend line. Tess DiMenna takes a slightly different approach. a 89.12: Minimum of 27 January. a 88.30: Support Line. Resistance: a 90.36: Maximum level daily. a 91.44: 50% Fibonacci level. a 91.98: Fibonacci 61.8%.

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