EURUSD Forecast – Tough Fight Follows

by Jan 9, 2021Setups

EURUSD Forecast

EURUSD chart analysis


Monday was pretty unclear because a large bearish Pinbar formed after Friday’s sell off. On Tuesday the price started to climb up and closed the day below previous candles close which was not clear sign will the price manage to break higher.

Wednesday was the day when the price broke out from the small range. But the breakout was a false signal where the price on Thursday returned back down.

The return inside range was strong. Two large bearish candles have wiped two weeks’ bulls’ work.

The price stopped at the support level $1.21793. That level is the previous confluence of support which is now preventing the price from falling down.

EURUSD Daily Forecast 09_01_2021

Get Access to the Same "New York Close" Forex Charts

I am Using in My Analysis

Receive a 10% trade credit bonus when funding with $1000 or more!

EURUSD Chart Forecast

The market has changed in the last two days and strong bearish candles tell me the price could move more down. I will take this fall with reserve because it was Friday when the market makes creative moves.

I will wait for Monday to finish to see where the price is heading.

For now as it looks the price needs to close below $1.21600 on a daily basis to see resistance level $1.20800 as a next support.

If the price does not close below $1.21600 it could stay inside the range between $1.21793 and $1.22845.

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 our self for bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

“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.

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications 


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

Beginners Online Course

Check the best online trading course for beginners

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications