📊 EURUSD 24th January 2025 Daily Analysis Based on Main Key Levels

Introduction

In the dynamic world of forex trading, understanding market movements is essential. This blog presents a comprehensive analysis of the EURUSD currency pair, focusing on critical levels and actionable trade setups. The current Daily Current Market Price (DCMP) for EURUSD is 1.04463, providing a foundation for our analysis.

Key Levels Summary

Resistance Levels Above DCMP (1.04463)

🔺 Resistance 1: 1.04337

🔺 Resistance 2: 1.04493

🔺 Resistance 3: 1.04745

Support Levels Below DCMP (1.04463)

🟢 Support 1: 1.04086

🟢 Support 2: 1.03834

🟢 Support 3: 1.03678

Swing Levels

📊 Swing High: 1.04584

📊 Swing Low: 1.01779

Trade Setup

💼 Intraday Buy Trade Setup

Entry Price: ✨ 1.04451

Stop Loss: ❌ 1.04350

Take Profit 1: 🎯 1.04550

Take Profit 2: 🎯 1.04650

Reason for Entry:

The support level at 1.04451 is below the DCMP, indicating a strong buying opportunity. This level aligns with significant technical support, suggesting potential upward movement.

💼 Intraday Sell Trade Setup

Entry Price: ✨ 1.04493

Stop Loss: ❌ 1.04550

Take Profit 1: 🎯 1.04400

Take Profit 2: 🎯 1.04300

Reason for Entry:

The resistance level at 1.04493 is just above the DCMP, presenting a viable selling opportunity. This level coincides with key technical resistance, indicating potential downward movement.

Analysis Summary

Resistance and Support Levels: Key levels indicate potential reversal zones. Resistance levels are identified at 1.04337, 1.04493, and 1.04745, while support levels are at 1.04086, 1.03834, and 1.03678.

Swing Levels: The Swing High is at 1.04584, and the Swing Low is at 1.01779.

Pivot Levels: The pivot level is at 1.04086, providing additional context for potential reversals.

Fibonacci Levels: Significant retracement and extension levels align with the identified support and resistance zones.

RSI Divergence: Indicates potential overbought conditions at resistance levels and oversold conditions at support levels.

MACD Crossing: Suggests bullish momentum at support levels and bearish momentum at resistance levels, confirming trade setups.

Conclusion

This analysis provides actionable trade setups and key levels to assist traders in making informed decisions in the EURUSD market. With the current market price at 1.04463, traders can utilize the outlined support and resistance levels, along with technical indicators, to execute trades confidently. Stay tuned for further updates and analyses!