FX.co ★ EUR/USD analysis for January 15 2021 - Bullish divergece on the horuly time-frame and potential for teh rally towards 1.2140

Prior was +4.9

• New orders +6.6 vs +3.4 prior
• Prices paid +45.5 vs +37.1 prior
• Six month conditions +31.9 vs +36.3 prior
• Employment +11.2 vs +14.2 prior

If you're a pessimist, you can start to see the makings of a crest in this report and a continued build-up in inflationary pressures.

Further Development

Analyzing the current trading chart of EUR/USD, I found that the sellers got exhausted at the level of 1,2116 and that there is potential for the rally towards 1,2140.

My advice is to watch for buying opportunities with the potential targets at 1,2140 and 1,2165.

Additionally, there is bullish divergence on the 1H time-frame, which is another sign for the fuhrer upside movement.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Natural Gas and Coffee today and on the bottom Platinum and Sugar.

Key Levels:

Resistance: 1,2140 and 1,2160

Support levels: 1,2116