Overview:
- According to previous events, we expect a wider trading range today because the market showed sins of high volatility yesterday. Hence, this range will probably start from the level of 1.0880 in order to continue towards the strong support at 1.0780. Additionally, the volatility was found at 210.50. Therefore, the market indicates the higher volatility. The first strong support is found at 1.0780 and the double bottom was formed at 1.0777. Moreover, the weekly support 2 is seen at the level of 1.0721.
Trading recommendations:
- The EUR/USD pair is still moving between 1.0880 and 1.0721.
- Below the level of 1.0880, look for moving further downside with 1.0780 and it might resume to 1.0721 in order to test the weekly support 2. However, stop loss must set above the weekly pivot point at the level of 1.0925.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/USD for January 22, 2016 . Thanks for your support.
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