📊 EURUSD 21st January 2025 Daily Analysis Based on Main Key Levels
- Kiran Kumar Alla
- Jan 21
- 2 min read
Introduction
In the fast-paced world of trading, understanding market dynamics is crucial for success. This blog presents a detailed analysis of EURUSD, focusing on essential resistance and support levels, along with actionable trade setups based on technical analysis.
Current Market Overview
EURUSD is currently trading at a Daily Current Market Price (DCMP) of 1.03822. This analysis will help traders identify potential entry and exit points, ensuring they can capitalize on market movements effectively.
Key Levels Summary
Resistance Levels Above DCMP (1.03822)
🔺 Resistance 1: 1.03357
🔺 Resistance 2: 1.03775
🔺 Resistance 3: 1.04451
Support Levels Below DCMP (1.03822)
🟢 Support 1: 1.02006
🟢 Support 2: 1.01588
🟢 Support 3: 1.00913
Swing Levels
📊 Swing High: 1.05407
📊 Swing Low: 1.01779
Trade Setups
Intraday Buy Trade Setup
🔹 Entry Price: ✨ 1.03775
🔹 Stop Loss: ❌ 1.03500
🔹 Take Profit 1: 🎯 1.04000
🔹 Take Profit 2: 🎯 1.04451
Reason for Entry:
The support level at 1.03775 is just above the DCMP, establishing a viable buying opportunity. This level aligns with Fibonacci retracement and technical support, indicating potential for upward movement.
Intraday Sell Trade Setup
🔹 Entry Price: ✨ 1.04451
🔹 Stop Loss: ❌ 1.04600
🔹 Take Profit 1: 🎯 1.04200
🔹 Take Profit 2: 🎯 1.03822
Reason for Entry:
The resistance level at 1.04451 is above the DCMP, providing a strong selling opportunity. This level aligns with Fibonacci extension and technical resistance, suggesting potential for downward movement.
Analysis Summary
Resistance and Support Levels: Key levels derived from technical analysis indicate potential reversal zones.
Fibonacci Levels: Resistance and support zones highlight significant retracement and extension levels.
RSI Divergence: RSI suggests potential overbought conditions at resistance levels and oversold conditions at support levels, confirming possible reversals.
MACD Crossing: MACD indicates bullish momentum at support levels and bearish momentum at resistance levels, providing additional confirmation for trade setups.
Conclusion
This analysis provides actionable trade setups and key levels to help traders make informed decisions in the EURUSD market. With the current market price at 1.03822, traders can utilize the outlined resistance and support levels, along with technical indicators, to execute trades confidently.
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