EUR/USD Corrects After Touching 1.0450: Will the Downtrend Continue?

Forex

Summary:

On January 22, 2025, EUR/USD is trading at 1.04488, down slightly after reaching a short-term peak near 1.0450. The pair is showing signs of a correction from the highs, with selling pressure emerging after a strong rally...

SELL EURUSD

Close Time

CLOSED

1.04450

Entry Price

1.04100

1.04600

1.04627 -0.00285 -0.27%

24.5

Pips

Profit

1.04100

1.04205

Exit Price

1.04450

Entry Price

1.04600

Market Overview

EUR/USD has experienced a short-term rally thanks to a weaker dollar on expectations that the US Federal Reserve (Fed) may slow its rate hikes in the near term. However, the euro also faces challenges from the European economy, as slowing regional growth and falling inflation have prompted the European Central Bank (ECB) to be more cautious in raising interest rates.

USD under pressure: The USD has been hit by mixed economic data, with reports showing US industrial production fell slightly last month. This has reduced the attractiveness of the USD, but support from monetary policy is still playing an important role in preventing the USD from falling further.

EUR lacks fresh impetus: The euro has not received significant support from recent economic data, and weakness in manufacturing growth and business confidence has limited the EUR's upside potential.

Market psychology

Investor sentiment is currently quite cautious, with a balance between buying and selling pressure. Big money is still waiting for important economic data from both the US and the European region before deciding on the next direction.

The CCI (14) indicator on the M15 chart shows a value of 77.86, close to the overbought zone. This indicates a high possibility of a downward correction as selling pressure appears at higher prices. In addition, profit-taking behavior after a strong increase is also a factor that promotes short-term selling pressure.

Technical analysis

The EUR/USD M15 chart is providing clear signals of a possible downside correction:

Ichimoku Cloud: Price has now broken out of the Ichimoku cloud but has not established a clear gap. If price returns to the cloud (1.0433-1.0410), bearish pressure will increase.

Bollinger Bands: Bollinger Bands show that price is approaching the upper boundary, signaling a possible correction as price volatility may decrease in the short term.

CCI (14): This indicator is entering the overbought zone, a warning signal of a potential downside correction.

Resistance: The 1.0450 level (recent high) remains a strong barrier that the price has not been able to break.

Support: The first important support level is located at 1.0433 (Tenkan-sen line) and 1.0410 (Ichimoku cloud bottom).

MACD: The MACD line is currently flattening near the signal line, indicating that bullish momentum has weakened.

Trading Recommendations

In the short term, EUR/USD is likely to retest the 1.0430 support zone if selling pressure continues to increase. If the price breaks the 1.0410 zone, the bearish trend will be confirmed and the price could head towards the 1.0385 zone. Conversely, if the price holds above 1.0450, the bullish momentum will return and the price could approach the higher resistance zone at 1.0475-1.0500.

Based on the technical signals and current market situation, the proposed "sell" trading strategy is as follows:

Entry: Sell at 1.0445-1.0450 when price fails to break above resistance zone.

Take profit: 1.0430-1.0410, corresponding to the nearest technical support levels.

Stop loss: 1.0460, protection against reversal risk if price breaks above important resistance zone.

Traders need to closely monitor price movements in the 1.0450 area, as this is the level that determines the short-term trend.

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

Adam

Cryptocurrency

Summary:

On January 22, 2025, Bitcoin (BTC/USDT) price was trading around $105,074.1 after facing selling pressure from the resistance zone near $105,500. The technical chart of the M30 timeframe clearly reflects the decline in bullish momentum, with technical indicators starting to send bearish signals...

SELL BTC-USDT

Close Time

CLOSED

105000.0

Entry Price

104500.0

105600.0

99880.7 -5091.9 -4.85%

500.0

Pips

Profit

104500.0

104483.9

Exit Price

105000.0

Entry Price

105600.0

Market Overview

The cryptocurrency market, led by Bitcoin, is undergoing a correction after a strong recovery from the $102,000 region last week. Selling pressure has increased significantly as Bitcoin approaches the $105,500 technical resistance zone, as short-term traders book profits. In addition, the cryptocurrency market sentiment remains influenced by major macroeconomic factors.

Interest rates and Fed policy: Uncertainty over the US Federal Reserve’s (Fed) monetary policy continues to be one of the factors that dominate market sentiment. The Fed is expected to maintain high interest rates for a longer period to control inflation, reducing the appeal of risky assets like Bitcoin.

Market liquidity declines: Trading volume in the past 24 hours on major exchanges has decreased by more than 15% compared to the average of last week. This reflects the caution of investors, especially in the context of no economic data or major events supporting the market.

In addition, Bitcoin is also facing risks from increasingly strict regulations in major regions such as the US and EU. These factors put downward pressure on prices, although the upward momentum from long-term investors remains.

Market psychology

The current market sentiment is somewhat neutral, with investors wavering between profit-taking and expectations for further price increases. Data from sentiment analysis tools such as the Crypto Fear Greed Index shows a “Neutral” reading of 51, down from a “Greed” reading of 63 last week. This reflects a decline in investors’ bullish expectations.

Additionally, on-chain transactions show that large institutional wallets (whales) have seen higher outflows than inflows over the past 48 hours, a sign of selling pressure. Meanwhile, retail traders appear to be holding positions, waiting for clearer signals.

Technical analysis

Bitcoin Corrects Under Selling Pressure: Downtrend or Technical Correction?_1

Bitcoin's 30-minute chart shows that the price is hovering just below the key resistance zone of $105,500 and near the Ichimoku cloud, signaling weakening bullish momentum. Some important technical indicators:

Ichimoku Cloud: Price is currently trading within the cloud, indicating a balance between buying and selling pressure. If price falls below the cloud ($104,500), it is likely to trigger a deeper decline.

Bollinger Bands: The Bollinger Bands are narrowing, indicating decreasing volatility and a potential breakout in the short term. Price is currently testing the Bollinger moving average at $105,030.

Stochastic (5,3,3): Stochastic is falling from the neutral zone (48.16) and heading towards 42.71, a negative signal indicating a downtrend is forming.

MACD: The MACD line has crossed below the signal line, confirming selling pressure and the possibility of further price declines in the short term.

Trading Recommendations

In the short term, Bitcoin is likely to retest the $104,500 support zone if selling pressure continues to increase. However, if the price breaks below the Ichimoku cloud and falls below $104,000, the bearish trend will be confirmed, and the price could head towards the $103,000 zone. Conversely, if the price breaks above $105,500 on high volume, the bullish momentum could return and push the price towards the $106,000 - $107,000 zone.

Based on technical analysis and market factors, a "sell" trading strategy is proposed to take advantage of the short-term correction trend. Details are as follows:

Entry: Sell at $105,000 - $105,100 as price continues to fluctuate below the resistance zone.

Take Profit: $104,500 - $104,000, corresponding to important technical support levels.

Stop loss: $105,600, protect against risk if price breaks above the $105,500 resistance zone.

Risk Warnings and Disclaimers

Add to Favorites

Adam

Forex

Summary:

On 22/01/2025, the EUR/CAD pair recorded its current price at 1.49583 after a strong rally, breaking through the previous resistance zone. However, the bullish momentum is showing signs of slowing down with technical signals suggesting a possible short-term correction......

SELL EURCAD

Close Time

CLOSED

1.49500

Entry Price

1.49200

1.49700

1.50520 +0.00120 +0.08%

20.0

Pips

Loss

1.49200

1.49825

Exit Price

1.49500

Entry Price

1.49700

Market Overview

EUR/CAD has seen a short-term rally thanks to the weakness of the Canadian dollar, which was hit by a sharp drop in oil prices in the recent trading session. However, the euro is not entirely supported, as the European Central Bank (ECB) is facing pressure to slow down its rate hikes, as inflation in the Eurozone shows signs of slowing.

In contrast, economic data from Canada has remained fairly stable, with unemployment remaining low and economic indicators positive, although the CAD has been negatively affected by fluctuations in oil prices – a major Canadian export.

Market psychology

Market sentiment shows indecision as EUR/CAD has hit resistance near 1.4965 and is facing strong selling pressure. The Stochastic indicator on the M15 chart is currently at 69.03 and 80.57, indicating that the market is entering overbought territory. This increases the possibility of a short-term correction.

Large investors are currently taking profits after the recent rally, with more selling orders being seen around the 1.4960-1.4970 zone. This trend could push the price back to test lower support levels.

Technical analysis

On the M15 chart, EUR/CAD is just above the Ichimoku cloud, but the bullish momentum is weakening. The Tenkan-sen and Kijun-sen lines are still pointing up, but are flattening, indicating that the bullish momentum may be weakening. The Bollinger Bands are also starting to narrow, indicating a gradual decrease in price volatility.

Important thresholds:

Support: 1.4935 (Kijun-sen line) and 1.4920 (recent bottom zone).

Resistance: 1.4965 and 1.4980.

Trading Recommendations

Based on the current technical signals, EUR/CAD is likely to decline to the support zone of 1.4935-1.4920 in the short term. However, if the price breaks the resistance of 1.4965 with high volume, the bullish momentum may return and push the price to higher levels. Investors should closely monitor economic developments from the European region and Canada, especially data related to inflation and oil prices, to make accurate trading decisions.

Based on fundamental and technical signals, the recommended trading strategy is "sell the downtrend" as follows:

Order: Sell at price 1.4950-1.4960.

Take profit: 1.4930-1.4920, depending on market movement.

Stop loss: 1.4970 to protect capital in case price reverses to increase.

Risk Warnings and Disclaimers

Add to Favorites

Adam

Forex

Summary:

On January 22, 2025, the AUD/USD pair recorded its current price at 0.62916, rising sharply from the support zone around 0.6260. The technical chart on the M15 timeframe shows clear bullish momentum, as the price broke above the Ichimoku cloud and tested the nearby resistance levels. With positive signals from technical indicators, the short-term uptrend of AUD/USD is likely to continue....

BUY AUDUSD

Close Time

CLOSED

0.62919

Entry Price

0.63200

0.62600

0.62900 -0.00171 -0.27%

31.9

Pips

Loss

0.62600

0.62598

Exit Price

0.62919

Entry Price

0.63200

Market Overview

The AUD has been supported by positive economic data from Australia, including a stable labor market and a bright economic growth outlook. In addition, the weakness of the USD amid expectations that the US Federal Reserve will slow down the pace of interest rate hikes has increased the appeal of commodity currencies such as the AUD.

Despite a lack of major moves in global commodity prices – particularly iron ore – the AUD has maintained its strength, buoyed by investor confidence in the Australian economy. On the other hand, the USD has been under pressure from mixed economic data and expectations that US inflation will continue to fall.

Market psychology

The current market sentiment shows optimism for the AUD as buying pressure has increased in recent sessions. The Stochastic indicator (5,3,3) on the M15 chart shows 62.57, indicating that the uptrend still has room to continue, although a slight correction is possible.

Large investors have started to increase their long positions in AUD/USD, believing that the pair will head towards higher resistance around 0.6300-0.6310 in the short term.

Technical analysis

AUD/USD Rebounds Strongly From 0.6260 Support: Can Uptrend Continue?_1

On the M15 chart, AUD/USD is maintaining an uptrend as the price has broken above the Ichimoku cloud, confirming a steady uptrend. The Tenkan-sen and Kijun-sen lines are both pointing up, further reinforcing the positive signal. The Bollinger Bands are expanding, indicating increased price volatility and a possible continuation of the uptrend.

Important thresholds:

Support: 0.6260 (nearest support zone) and 0.6240 (old bottom).

Resistance: 0.6300 and 0.6310.

Trading Recommendations

In the short term, AUD/USD is likely to continue rising, aiming at the resistance zone of 0.6310. However, volatility is still possible if economic data from the US or other unexpected factors impact the USD. With the current trend, the pair is opening up positive opportunities for bullish traders, especially when the price holds above important support zones.

Based on positive signals from the chart and fundamental data, the proposed trading strategy is as follows:

Order entry: Buy at price 0.6285-0.6290.

Take profit: 0.6310-0.6320, depending on the strength of the bullish momentum.

Stop loss: 0.6260, protects against risks from unexpected reversals.

Risk Warnings and Disclaimers

Add to Favorites

Adam

Forex

Summary:

SELL EURCAD

EXP

EXPIRED

1.49500

Entry Price

0.49200

1.49700

1.50520 +0.00120 +0.08%

Pips

EXPIRED

0.49200

1.49551

Exit Price

1.49500

Entry Price

1.49700

Market Overview

Market psychology

Technical analysis

Important thresholds:

Support: 1.4935 (Kijun-sen line) and 1.4920 (recent bottom zone).

Resistance: 1.4965 and 1.4980.

EUR/CAD Drops After Peaking Near 1.4965: Will the Downtrend Continue?_1

Trading Recommendations

Based on fundamental and technical signals, the recommended trading strategy is "sell the downtrend" as follows:

Order: Sell at price 1.4950-1.4960.

Take profit: 1.4930-1.4920, depending on market movement.

Stop loss: 1.4970 to protect capital in case price reverses to increase.

Risk Warnings and Disclaimers

Add to Favorites

Adam

Forex

Summary:

The AUD/JPY pair recorded a trading price of 97.957, showing a positive uptrend as the AUD continues to benefit from fundamental and technical factors. The M15 chart clearly reflects the bullish momentum with optimistic signals from the Ichimoku and Bollinger Bands indicators. However, the pair is approaching an important resistance zone, raising questions about the ability to maintain the upward momentum or a short-term correction...

BUY AUDJPY

EXP

EXPIRED

97.800

Entry Price

98.500

97.400

98.112 -0.233 -0.24%

Pips

EXPIRED

97.400

97.894

Exit Price

97.800

Entry Price

98.500

Market Overview

AUD/JPY is being supported by positive macro factors from the Australian economy. With the Reserve Bank of Australia (RBA) maintaining interest rates at 4.1% to curb inflation, the AUD has become more attractive to investors. Meanwhile, the Bank of Japan (BoJ)'s low interest rate policy continues to put pressure on the yen.

In addition, rising global commodity prices, especially iron ore – one of Australia’s main exports – are strengthening the AUD’s position. On the other hand, the BoJ’s continued monetary easing stance is reducing the attractiveness of the yen. These factors create favorable conditions for AUD/JPY to continue to grow in the short term.

Market psychology

Current investor sentiment reflects optimism about the AUD’s growth prospects. The increase in buying pressure is evidenced by the price remaining above the Ichimoku cloud – a clear bullish signal. However, the Stochastic indicator is moving deep into overbought territory, suggesting a short-term correction may occur before the price continues its upward trend.

Large traders are maintaining long positions amid expectations that Japan's monetary policy will not change significantly in the near future, which reinforces the belief in the upside potential of AUD/JPY.

Technical analysis

AUD/JPY Rises Near 98: Potential for Further Breakout?_1

The M15 chart of AUD/JPY shows a clear uptrend as the price is above the Ichimoku cloud. The Tenkan-sen and Kijun-sen lines are both sloping up, confirming strong bullish momentum. The Bollinger Bands are expanding, and the current price is hovering near the upper band, indicating that buying pressure is dominant.

The Stochastic indicator is currently at 95.74, indicating that the market is overbought. This could lead to a slight correction before the price continues its upward trend. The important support level is located at the 97.50 area (Kijun-sen line), while the next resistance level is identified at 98.20 – the recent high.

Trading Recommendations

With positive signals from both fundamental and technical factors, the proposed trading strategy is as follows:

Entry: Buy at 97.70-97.80 when price corrects slightly.

Take profit: 98.20-98.50, depending on market momentum.

Stop loss: 97.40 to protect capital in case of market reversal.

Risk Warnings and Disclaimers

Add to Favorites

Adam

Forex

Summary:

The GBP/JPY market has been experiencing notable volatility with factors such as monetary policy from the Bank of England (BoE) and the Bank of Japan (BoJ) influencing it. Going forward, the trend of GBP/JPY may continue to be influenced by technical factors and economic news...

BUY GBPJPY

Close Time

CLOSED

192.650

Entry Price

193.300

192.000

194.164 -0.453 -0.23%

23.9

Pips

Loss

192.000

192.411

Exit Price

192.650

Entry Price

193.300

Market Overview

GBP/JPY continues to be driven by the monetary policy divergence between the Bank of England (BoE) and the Bank of Japan (BoJ). While the BoE maintains high interest rates at 5% to control inflation, the BoJ remains steadfast in its low negative interest rates, putting selling pressure on the yen. In addition, Japan's 39 trillion yen economic stimulus package by the end of 2024 is causing the currency to weaken further. These factors strengthen the pound's position in currency pairs, especially against the Japanese yen.

Against this backdrop, GBP/JPY has been on a steady rise, although a slight correction at the start of the month has left the market cautious. Investors are also watching the impact of BoJ policy, with concerns that the bank could change its policy stance in the first half of 2025.

Market psychology

The current sentiment in the forex market shows that investors continue to favor GBP due to its attractive interest rate differential. Recent trading data shows that large traders have increased their long positions in GBP/JPY, pushing the price above the key resistance level at 192.00. However, the Stochastic indicator on the chart shows signs of overbought conditions, reflecting caution about the possibility of a short-term correction.

Reports on the global economic outlook also weighed on sentiment. While Britain has kept inflation under control, Japan is facing rising price pressures, undermining confidence in the yen. This has led investors to seek higher-yielding assets such as the pound.

Technical analysis

GBP/JPY Rises Strongly: Will the Uptrend Continue?_1

On the M15 chart, GBP/JPY shows a clear uptrend as the price is above the Ichimoku cloud – a positive technical signal. The Tenkan-sen and Kijun-sen lines are both pointing up, indicating that the bullish momentum is maintained. The Bollinger Bands are widening and the price is hovering near the upper band, reflecting strong buying pressure.

The Stochastic (5,3,3) indicator is currently at 87.31 and 89.66, indicating that the market is overbought. This could lead to a short-term correction, especially if the price fails to convincingly break above the resistance level of 192.80.

Important threshold:

Support: 192.00 (Kijun-sen line) and 191.50 (previous low).

Resistance: 192.80 (recent peak) and 193.50 (important psychological level).

Trading Recommendations

Based on fundamental and technical factors, the trading strategy for GBP/JPY is as follows:

Entry: Buy at 192.30-192.50 when price corrects slightly.

Take profit: 193.20-193.50, depending on breakout level.

Stop loss: 191.90, protection from risks from large correction.

Risk Warnings and Disclaimers

Add to Favorites

Daily News

Remarks of Officials

Central Bank

Forex

FastBull Events

FastBull Featured

Devin

Mohammad Omar

Recent Searches

Top Searches

Markets

News

Analysis

User

24/7

Economic Calendar

Education

Data

EUR/USD Corrects After Touching 1.0450: Will the Downtrend Continue?

Market psychology

Technical analysis

Trading Recommendations

Bitcoin Corrects Under Selling Pressure: Downtrend or Technical Correction?

Market Overview

Market psychology

Technical analysis

Trading Recommendations

EUR/CAD Drops After Peaking Near 1.4965: Will the Downtrend Continue?

Market Overview

Market psychology

Technical analysis

Trading Recommendations

AUD/USD Rebounds Strongly From 0.6260 Support: Can Uptrend Continue?

Market Overview

Market psychology

Technical analysis

Trading Recommendations

EUR/CAD Drops After Peaking Near 1.4965: Will the Downtrend Continue?

Market Overview

Market psychology

Technical analysis

Trading Recommendations

AUD/JPY Rises Near 98: Potential for Further Breakout?

Market Overview

Market psychology

Technical analysis

Trading Recommendations

GBP/JPY Rising Strongly: Will the Uptrend Continue?

Market Overview

Market psychology

Technical analysis

Trading Recommendations

Risk Disclosure