EUR/USD hourly chat for 19th January 2023
05:00
The EUR/USD remains above MA 200 H1
Yesterday the EUR/USD traded in different directions in the range of $1.0765-$1.0885 and closed the day without significant changes. Today it was also trading in a narrow range of $1.0780-00, staying close to yesterday’s closing price. On the hourly chart EUR/USD is still trading above the moving average line MA (200) H1 ($1.0775). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the EUR/USD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistances levels are at: $1.0885, $1.0935, $1.0990
- Support levels are at: $1.0765, $1.0710-25, $1.0660
Probably, the main scenario is continued growth towards $1.0885 (Jan 18 high).
The alternative scenario is consolidation below MA 200 H1, followed by decline to $1.0480 (Jan 6 low).
