empty
27.01.2023 11:36 AM
EUR/USD: Technical analysis on January 27, 2023. American economy shows impressive growth

Hello, dear traders! Yesterday, EUR/USD reversed and fell to the 200.0% retracement level of 1.0869 in the 1-hour time frame. In case of a rebound from this level, the quote will return to 1.1000. Meanwhile, consolidation below 1.0869 will lead to a bearish continuation with the target at 1.0750.

This image is no longer relevant

The pair's recent sluggish increase can hardly be called real growth. Bull traders run out of steam. They have dominated the market over the past months. So, they may soon begin to retreat. I expect a correction to occur in the next week or two. The ECB and the Fed will hold their policy meeting next week. In my view, trades have already priced the rate hikes of 0.50% and 0.25% respectively. Therefore, the price is likely to show the opposite reaction to the outcome of those meetings.

The greenback rarely grows now. Yesterday, for example, the Q4 GDP report in the US revealed a 2.9% increase, while traders had expected a 2.6% rise. Durable goods orders came in at 5.6%, beating market expectations of 2.4%. However, the greenback only gained 50 pips. In other words, the bears are now reluctantly selling the instrument. Perhaps they are waiting for the right moment. If after the Fed meeting and the ECB meeting, the pair does not go down, this will mean the greenback may be bearish for several months. The ascending trend corridor in the 4-hour time frame indicates bullish market sentiment.

This image is no longer relevant

In the 4-hour time frame, the pair reversed to the upside. It is now heading toward the 50.0% retracement level of 1.0941. In case of a pullback from this mark, the quote will fall to the 38.2% Fibo level of 1.0610. The ascending trend corridor illustrates bullish market sentiment. The pair is unlikely to plunge before the close below the corridor. A bearish CCI divergence may trigger a drop in price in the coming days.

Commitments of Traders:

This image is no longer relevant

Last week, speculators closed 10,344 long positions and opened 2,346 short positions. The sentiment of major players remains bullish. Speculators now hold 228,000 long positions and 101,000 short positions. EUR/USD is currently bullish, in line with the COT reports. At the same time, the number of longs twice exceeds the number of shorts. The pair has strong growth potential until the ECB raises interest rates by 0.50% at least.

Macroeconomic calendar:

Eurozone: President Lagarde's Speech (10-30 UTC).

United States: Core PCE Price Index (13-30 UTC); Personal Income and Personal Spending (13-30 UTC); Michigan Consumer Spending 15-00 UTC).

On January 27, fundamental factors will have little influence on market sentiment.

Outlook for EUR/USD:

It will become possible to sell the pair after a pullback from 1.0941 in the 4-hour time frame. Targets are seen at 1.0869 and 1.0750. Long positions could be opened if EUR/USD closes above 1.094 in the 4-hour time frame, targeting 1.1000 and 1150.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Bitcoin. El logro de nuevos máximos puede detenerse

El precio del Bitcoin superó momentáneamente el nuevo nivel histórico de 111 000, pero no logró consolidarse por encima de él. El apoyo proviene, tanto para él como para

Pati Gani 10:53 2025-05-22 UTC+2

EUR/USD. El 12 de mayo. El conflicto en Ucrania podría llegar a su fin.

Buenos días, estimados traders. El par EUR/USD el viernes subió hacia la zona de resistencia 1,1265 – 1,1282, rebotó desde allí y giró a favor del dólar estadounidense. El proceso

Samir Klishi 10:27 2025-05-12 UTC+2

Pronóstico para el gas al 8 de abril de 2025

Gas natural (NG) Ni al final de la semana pasada, ni mucho menos al comienzo de la actual, la cotización del gas natural logró superar la resistencia de 4.200, reforzada

Laurie Bailey 08:11 2025-04-08 UTC+2

Pronóstico del gas para el 17 de marzo de 2025

Gas natural (NG) La jornada de hoy se abrió por encima de la línea indicadora Kruzenshtern en el marco diario. Al mismo tiempo, el oscilador Marlin cambió de dirección hacia

Laurie Bailey 07:02 2025-03-17 UTC+2

Pronóstico para el Bitcoin el 21 de febrero de 2025

Bitcoin El Bitcoin ha cambiado de opinión sobre el desarrollo de una caída hacia soportes objetivos cómodos, y en su lugar, siguiendo el sentimiento de riesgo general, ha revertido desde

Laurie Bailey 07:23 2025-02-21 UTC+2

Bitcoin - análisis técnico de la situación

Viernes, y el Bitcoin sigue esperando. Ninguna de las partes enfrentadas tiene prisa por presentarse y ser activa. En la incertidumbre actual, el posicionamiento de los principales índices de referencia

Evangelos Poulakis 07:45 2025-02-14 UTC+2

Previsión para el gas natural (GN) del 5 de febrero de 2025

En el gráfico semanal la semana pasada el precio se revirtió desde el nivel de soporte 3.017 - desde los máximos de septiembre 2024, agosto 2023, febrero 2023 y también

Laurie Bailey 07:51 2025-02-05 UTC+2

#NDX - análisis técnico de la situación

A finales del año pasado, el índice marcó un nuevo máximo histórico (22141), tras lo cual se detuvo la subida, comenzó la formación de la corrección y la consolidación. Ahora

Evangelos Poulakis 07:24 2025-02-04 UTC+2

Bitcoin 30 Enero - análisis técnico de la situación

A pesar de marcar un nuevo máximo la semana pasada (109986), el Bitcoin detuvo su tendencia alcista y comenzó a formar incertidumbre. Hasta ahora, el formato semanal ha proyectado

Evangelos Poulakis 07:24 2025-01-30 UTC+2

#SPX (contrato CFD sobre futuros del SP500). Esperamos que la subida continúe

El contrato CFD sobre futuros del S&P 500 se recupera vigorosamente tras una caída local del lunes por la oleada de noticias sobre el éxito de la empresa china DeepSeek

Pati Gani 11:06 2025-01-29 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.