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EUR / USD and GBP / USD January 22 – technical analysis recommendations

DATE OF PUBLICATION: 2021-01-22 12: 06: 26EUR / USD Last day, the promotion players had the initiative. As a result, they brought the euro back to the historic milestone of 1.2170. For the emergence of new prospects and opportunities for upward traders, it is now important not only to overcome 1.2170, but also to eliminate the Ichimoku day cross (1.2202 – 1.2236), then the question will rest on the maximum of the current weekly correction (1.2349). For the downside traders in the current situation, it is important to stay below the resistance encountered, then return to the weekly supports 1.2075-65 (weekly Tenkan + weekly Fibo Kijun), overcome them and, if possible, gain a foothold in the daily cloud, now its upper border is located at 1, 2040 In the lower halves, the bulls maintain their advantage and continue the uptrend. Intraday upward reference points for the uptrend continuation are located today at 1.2192 – 1.2217 – 1.2262 (resistances of the classic Pivot levels). Nevertheless, a downward correction is now being observed, the key levels for the development of which are the support levels 1.2147 (central pivot level) and 1.2116 (weekly long-term trend). Fixing below can affect the balance of power, making the main task for the downside players to update the lows (1.2077 – 1.2054) .GBP / USD Can yesterday’s next update of the maximum confirm today’s weekly candle? The confrontation continues. There is no clear leader. The next week will be the last for January, so the bullish players will most likely continue to maintain the situation and try to get ahead to consolidate the positive result in January. The next resistance in this direction can be noted at 1.3904 (the first target of the target for the breakout of the weekly cloud). The closest supports now are the levels of the daily cross 1.3624 – 1.3532 – 1.3466, strengthened by the weekly short-term trend (1.3439). The bearish players have so far managed to execute a rather deep corrective decline. They have taken possession of the central Pivot-level, today it is at 1.3708 and in the current situation acts as the nearest resistance, as well as support for most of the analyzed technical indicators. As a result, the main bearish desires are now aimed at conquering the weekly long-term trend (1.3638) and reversing the moving average. Intermediate support S1 (1.3670) is now met. Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Avarage (120) Material provided by InstaForex – Source – InstaForex

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