EURUSD Forecast – Bullish Sentiment in Creation

by Jan 8, 2022EURUSD Forecast

EURUSD Forecast

EURUSD chart analysis 

What we can see on the chart compared to the previous week analysis is that the price had a retrace back to previous range area and from there found support for the next move up.

Week started with the bearish candle and reached a $1.13094 resistance level. At that level the price stayed for three days.

And then on Friday the price moved strongly up and closed again the week above previous daily candles close.

It is the second week that the price finishes the week with above previous daily candles close.

EURUSD Daily Forecast 8_1_2022

With the second week with the same scenario of closing price higher than previous daily candles close we have more confirmation that the price will move up.

The price is now in the channel where $1,14000 level is highly possible. We could see price next week moving around this level.

The $1.14748 level is the next strong resistance where we can expect the price to stall. From the current price $1.13613 up to the $1.14748 level is not too far. It is around 100 pips which EURUSD can move in a day like the last candle this week which had over 70 pips range.

Entry levels would be in a bullish direction because the market shifts from the bearish to bullish. All retracements like this one are good to look for entry points next to support levels.

Entry EURUSD: If you want to see how to play this scenario join G-Trader

If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

Trading Analysis Bonus

I am sharing trading analysis each week.

It is free and if you want to receive e-mail notification, sign up.

The Forex market is not easily predictable and we need to prepare ourselves for a bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

Check other trading tutorials:

Forex Trading for Beginners

Forex Trading Basics

Forex Trading Platform

Forex Currency Pairs

Forex Order Types

Forex Technical Analysis

Forex Trading Indicators

Forex Broker

 

“Disclosure: Some of the links in this post are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. This does not cost you anything extra on the usual cost of the product, and may sometimes cost less as I have some affiliate discounts in place I can offer you”

Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.

Beginners Online Course

Check the best online trading course for beginners

Beginners Online Course

Check the best online trading course for beginners

FREE WORKSHOP

For beginners who does not know how and where to start with trading

In the workshop I will tell you

what steps to do in order 

to transform yourself into a trader

EURUSD Forecast – $1.03920 Still the Target

EURUSD Forecast – $1.03920 Still the Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about $1.03920 as a target and price reached that level on Monday. The strong bearish candle reached demand zone around $1.03820. That move confirmed strong bearish sentiment that has started with two strong bearish...

read more
EURUSD Forecast – $1.03920 Target

EURUSD Forecast – $1.03920 Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about $1.06736 that needs to hold if we want to see the price on higher levels. The price returned to $1.06736 and formed a bullish Pin bar on daily time frame. The price moved higher and reached a $1.07825 supply...

read more
EURUSD Forecast – $1.06736 Support That Needs to Hold

EURUSD Forecast – $1.06736 Support That Needs to Hold

EURUSD Analysis TodayPrevious EURUSD forecast talked about price targeting $1.08300 which is close to the monthly triangle support line. But, the price could not break above $1.07825 resistance level. The price reached $1.07825 resistance and made a retrace back down...

read more

0 Comments

Pin It on Pinterest

Shares
Share This