📊 EURUSD 23rd January 2025 Daily Analysis Based on Main Key Levels

Current Market Overview

The current Daily Current Market Price (DCMP) for EURUSD is 1.04099. This analysis identifies key resistance and support levels, along with actionable trade setups based on technical and fundamental analysis.

Key Levels Summary

Resistance Levels Above DCMP (1.04099)

🔺 Resistance 1: 1.04448

🔺 Resistance 2: 1.04602

🔺 Resistance 3: 1.04851

Support Levels Below DCMP (1.04099)

🟢 Support 1: 1.03775

🟢 Support 2: 1.03950

🟢 Support 3: 1.03547

Swing Levels

📊 Swing High: 1.04584

📊 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: 🎯 1.04150

Reason for Entry:

The support level at 1.03775 is below the DCMP, establishing a strong buying zone. 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: 🎯 1.04300

🔹 Take Profit 2: 🎯 1.04200

Reason for Entry:

The resistance level at 1.04451 is above the DCMP, indicating a strong selling zone. 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. Resistance levels are identified at 1.04448, 1.04602, and 1.04851, while support levels are at 1.03775, 1.03950, and 1.03547.

Pivot Levels: The pivot point is at 1.04199, serving as a critical level for potential price reversals.

Fibonacci Levels: The identified support and resistance zones highlight significant retracement and extension levels, providing potential entry points for trades.

RSI Divergence: RSI indicates potential overbought conditions at resistance levels and oversold conditions at support levels, confirming possible reversals.

MACD Crossing: MACD suggests 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 1.04099, traders can utilize the outlined resistance and support levels, along with technical indicators, to execute trades confidently.