EUR/USD: The monthly probability is bearish as price

Tian Kriek

Analyst


January 23, 2020 03:55 AM

BEARISH

Daily Trading Range:
EUR/USD: The monthly probability is bearish as price is in a large Bearish channel. As long as price remains below the monthly pivot/psychological resistance at 1.1200 I shall deem the probability Bearish. The weekly probability is Bearish too as there is a Bearish crown and a down Fibonacci swing. The daily probability is also Bearish as the most recent counter trend line has been broken and there is a down push zone with respect to the Fibonacci swing. Now that the pivotal support at 1.1100 has been breached I am expecting price to continue lower. Next support is a daily counter trend line (conservative). Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/tk-aod-workspaces-23-jan/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 1.2000
Resistance 2: 1.1700
Resistance 1: 1.1200
Current Price 1.1087
Support 1: 1.1100
Support 2: 1.0500
Support 3: 1.0000

Two Hour Chart

Two Hour Chart
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