empty
31.01.2024 03:56 PM
Trading Signals for EUR/USD on January 31, 2024: buy above 1.0836 (21 SMA - 200 EMA)

This image is no longer relevant

Early in the American session, the Euro is trading around 1.0834, around the 21 SMA, and within the downtrend channel forming since January 9. We can see on the chart that EUR/USD has been consolidating after reaching the low of 1.08. If EUR/USD breaks the secondary bearish channel, we could expect it to reach 1.0890 in the next few hours. This level coincides with the 200 EMA and the top of the downtrend channel, which could offer strong resistance.

In the next few hours, the Federal Reserve is due to announce its policy decision which could favor the recovery of the euro. If the Fed confirms the dovish reversal, the euro could gain strong momentum and approach 1/8 of Murray located at 1.0864 and finally could try to break the downtrend channel.

If bullish strength prevails, the euro could consolidate above 1.0890 which could be seen as an opportunity to buy. Thus, in the short term, it could reach 2/8 Murray at 1.0986.

If the Euro remains below 1.0836 in the coming hours, the outlook could be negative and we could expect EUR/USD to continue falling. The price could reach the bottom of the downtrend channel around 1.0783 and even 0/8 Murray at 1.0742.

The eagle indicator is giving a slightly positive signal which could offer an opportunity to buy just in case the euro consolidates above 1.0836 (21 SMA).

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dimitrios Zappas
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD. July 25th. The ECB Monitors EU–US Trade Negotiations

On Thursday, the EUR/USD pair traded sideways. The outcome of the ECB meeting had virtually no impact on market sentiment—and the meeting itself turned out to be uneventful

Samir Klishi 12:39 2025-07-25 UTC+2

Forecast for GBP/USD on July 25, 2025

On the hourly chart, the GBP/USD pair on Thursday rebounded from the 50.0% retracement level at 1.3579, reversed in favor of the U.S. dollar, and consolidated below the 61.8% Fibonacci

Samir Klishi 12:12 2025-07-25 UTC+2

Forex forecast 25/07/2025: EUR/USD, AUD/USD, USD/JPY, GBP/USD, Gold, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:02 2025-07-25 UTC+2

GBP/USD: The Pair is Forming a Trend Reversal Pattern – "Head and Shoulders"

The British pound remains under pressure due to the challenging economic situation in the United Kingdom. Recent economic data confirms this, which naturally affects demand for the sterling. Weak manufacturing

Pati Gani 09:57 2025-07-25 UTC+2

Trading Signals for GOLD (XAU/USD) for July 25-28, 2025: buy above $3,359 and sell below $3,392 (21 SMA - 6/8 Murray)

The Eagle Indicator is showing a negative signal, so if the price falls below 3,359, it is seen as a signal to sell with targets at the 5/8 Murray around

Dimitrios Zappas 08:01 2025-07-25 UTC+2

Trading Signals for BITCOIN for July 25-28, 2025: buy above $115,000 (5/8 Murray - 21 SMA)

Bitcoin is trading around $115,400 after reaching the key level of $115,000, and a technical rebound is likely imminent in the coming hours, reaching the 21SMA around $118,350. If Bitcoin

Dimitrios Zappas 07:59 2025-07-25 UTC+2

Trading Signals for EUR/USD for July 25-28, 2025: sell below 1.1741 (21 SMA - 8/8 Murray)

Early in the European session, the EUR/USD pair is trading around 1.174, undergoing a technical correction after attempting to break below the 1.1790 level. The euro is likely to continue

Dimitrios Zappas 07:57 2025-07-25 UTC+2

EUR/USD Forecast for July 25, 2025

At the very last moment, the euro released the tension and abandoned its attempt to retest the upper boundary of the price channel. The day closed below the daily MACD

Laurie Bailey 05:06 2025-07-25 UTC+2

GBP/USD Forecast for July 25, 2025

The British pound failed to overcome the pressure of the daily balance line. Yesterday, the price fell by 69 pips, and this decline continued into the morning. The signal line

Laurie Bailey 05:06 2025-07-25 UTC+2

USD/JPY Forecast for July 25, 2025

The USD/JPY pair is showing a strong upward trend. After rebounding from the support level at 146.29, the price is now heading toward the nearest target at 149.38. This movement

Laurie Bailey 05:06 2025-07-25 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.