💡 EURUSD: Forecast January 16
Updated
EURUSD continues to fluctuate in a narrow range, not creating new notable signals. However, the fact that the price has accumulated for too long around the lower border of the rising channel combined with the previous strong falling wave shows that the risk of breakdown is increasing. Bulls need to keep SL below 1.09 for existing long positions, guarding against the possibility of a price decline. If this happens, the short-term target for bears is around 1.075.
Note
The report released late last week showed that US producer prices fell unexpectedly in December. The data has traders betting that the Fed will cut 166 basis points this year instead previously priced 150 basis points.Note
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.