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Main » 2015 » January » 22 » Technical analysis and forex forecast for today 22.91.2015: EUR / USD (euro / dollar) and GBP / USD (GBP / USD)
01:43
Technical analysis and forex forecast for today 22.91.2015: EUR / USD (euro / dollar) and GBP / USD (GBP / USD)

Technical analysis and forecast of the euro dollar (EUR / USD) 22.01.2015

Yesterday's attempt bulls in the euro / dollar has not yet been successful, bears firmly stand on his own, but the course of the Euro is still held above the support level 1.1500. That, and a strong oversold euro in tandem with the US dollar, the euro gives customers a very high probability of a rebound of the pair to the nearest resistance 1.1875. Overcoming this resistance will be the first evidence of a possible increase in the euro / dollar pair and open the way for testing the resistance line of long-term downtrend channel. 

 

 

Fig. 1. The daily chart
 
 
 
In the medium term, if the euro / dollar will be able to gain a foothold above the resistance line of the channel, and then overcome the 50-day SMA, it will signal the transition to medium-term growth of the euro against the dollar in order to 1.2600.
 
If the euro / dollar will continue to consolidate and remain below 1.1875 resistance and oversold decrease, in this case a high probability of breaking and fixing rate below support 1.1500, which points to a further decline in the euro / dollar towards the 1.1000 mark.
 
 
Technical Analysis and Forecast GBP / USD (GBP / USD) on 22/01/2015
 
Fig. 2. The daily chart
 
For the last day the situation on the pair GBP / USD is practically not changed. GBP / USD continues to trade at 1.5100 support, against this background, there is a high probability of the formation of the growth of the British currency to the level of 1.5500, which has approached the 50-day SMA. if the "bulls" on the pair GBP / USD will be able to overcome the resistance, it will probably allow the pound to continue to grow with the objectives of 1.5785-1.5825, which left 100-day SMA.
 
Only stable fixation GBP / USD below 1.5100 will open the way to test a minimum of sterling in 2013 around 1.4810. A further breakthrough GBP / USD lower at this point is unlikely, and on the way up is possible trend reversal.
 
 
Eduard Kovalenko, analyst of company Admiral Markets
 
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