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EUR / USD and GBP / USD January 14 – technical analysis recommendations

DATE OF PUBLICATION: 2021-01-14 12: 52: 08EUR / USD The pair performed a retest of the passed levels and returned under the historical milestone of 1.2170. The weakness of the bearish players can provoke the emergence of consolidation now instead of an active and effective continuation of the decline. In this case, the attraction will be provided by the levels of the daily cross (1.2241 – 1.2204 – 1.2170), strengthened by the historical level (1.2170). Overcoming the current attraction will open the way to the next supports – weekly levels (1.2075 – 1.1984) and a daily cloud. The previous corrective rise did not develop. The pair returned below key levels, today they are located at 1.2173 (central pivot level) and 1.2195 (weekly long-term trend), as a result of which the advantages are again on the side of the bearish players. Support for the classic Pivot levels (1.2123 – 1.2090 – 1.2040) serve as benchmarks for the continuation of the decline within the day. Fixing above the key resistances (1.2173-95) and a reversal of the weekly long-term trend will help to change the current balance of power at H1. The resistances of the classic Pivot levels are today at 1.2206 – 1.2256 – 1.2289. GBP / USD The expected Chinkou divergence on the daily chart was formed with the minimum divergence of the highs, so this is more of a warning than a call to action. The bulls in the current situation are not strong enough to fully and effectively continue the trend. At the same time, the opponent needs confirmation and some additional incentive to reverse the situation. The main reference points remain in place today, the resistances 1.3703 – 1.3904 are important for the bulls, the passage of supports 1.3577 – 1.3486 – 1.3418 – 1.3350 is important for the bears. On H1, the pair has been working in the zone for a long time attraction of the central Pivot-level (1.3648). The loss of the level, as well as the consolidation below the weekly long-term trend (1.3584) and the reversal of the moving average will lead to a change in the balance of forces, giving advantages to the players for the fall. Further downside targets are the support of the classic Pivot levels (1.3559 and 1.3508). Keeping key supports and updating the high (1.3703) will allow us to consider the prospects for the upside, intraday today they are located at 1.3737 (R2) and 1.3775 (R3). Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Avarage (120) Material provided by InstaForex – Source – InstaForex

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EUR / USD and GBP / USD January 21 - technical analysis recommendations

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