What’s EURUSD forecast for Jan 2020?

EURUSD Risk appetite pushed it to weekly highs. Euro/dollar is trading within a narrowing triangle or wedge. EUR/USD is trading below the 50, 100, and 200 Simple Moving Averages (SMAs) on the H4 chart. Next, 1.1170, 1.1205, and 1.1230 all capped the currency pair of late and serve NOW as resistance.

According to Fxstreet, EURUSD has robust support at 1.1140, which is indeed the convergence of the Bollinger Band 4h-Middle, the Fibonacci 61.8% one-day, the Simple Moving average SMA 200-H1, the SMA 200-D1, the SMA 200-M15, the SMA 50-H1, the SMA 10-4H, and the SMA 50-4H.

Moving down, another cushion (support) awaits at 1.1099, which is the meeting point of the Fibonacci 61.8% (one-month) and the SMA 50 on Daily Chart.

Going further up, strong resistance awaits at 1.1192, which forms as result of the confluence of the Pivot Point one-day Resistance 2 and the PP one-week R1.

Still further above, is last month’s high at 1.1244 which can be taken as the next upside target.

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Weekly Forex Forecast for EURUSD, GBPUSD, USDJPY, GBPJPY, GBPAUD (January 13 - 17, 2020)

Watch the latest Weekly Forex Forecast to see how Justin Bennett is trading the EURUSD, GBPUSD, USDJPY, GBPJPY, and GBPAUD through January 17

EUR/USD and GBP/USD Forecast January 15, 2020

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