FX.co - EUR/USD analysis for January 27, 2022 - Strong breakout to the downside

2022-01-27T13:32:18

Relevance until2022-01-28

Technical analysis:

EUR/USD analysis for January 27, 2022 - Strong breakout to the downside

EUR/USD has been trading downside as I expected. The price reached both downside objectives from yesterday. I still see potential for bigger drop.

Trading recommendation:

Due to the breakout of the key support at the price of 1,1185 with the high volume, I see potential for even bigger drop in next period.

Watch for selling opportunities on the rallies and continuation al pattern using the intraday chart.

Next key downside objective point is set at 1,1020

Key resistance now became level at 1,1185

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for January 27, 2022 - Strong breakout to the downside