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EUR / USD is approaching the barrier. The market is pending!


Good day!

The EUR / USD pair actually came close to the horizontal level of 1.2000, from which the chances of a price rebound upwards remain.

According to COT CFTC reports, large speculators continue to build up a long position and close short positions. So far, buyers have an advantage in the European currency (3 to 1). Therefore, the variant with a rebound from the “psychological” level 1.2000 is also confirmed by indirect data:

EUR / USD is approaching the barrier.  The market is pending!

The dollar index decided to bounce off the strong monthly support range formed between 89.63 and 88.50 levels. It will be interesting to see the close of the current month, but a hint of a possible strengthening of the dollar has already been received:

EUR / USD is approaching the barrier.  The market is pending!

For the Canadian we have a downtrend plus a horizontal level of 1.2940. From the point of intersection of these two lines, a potential rebound to the south can occur:

EUR / USD is approaching the barrier.  The market is pending!

Oleg Svirgun

Technical analysis

01/18/2021

Tickmill Research Team

Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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