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29.01.202504:54 Analisis Forex & Kajian: Forecast for EUR/USD on January 29, 2025

By the end of yesterday's session, the EUR/USD pair had fallen below the balance indicator line on the daily chart. This indicates that the price increase toward 1.0520 was likely either a false breakout or an unsuccessful attempt that lacked momentum. The focus now shifts to the target level of 1.0350, with the MACD line close to this point.

Exchange Rates 29.01.2025 analysis

Today, the Federal Reserve is expected to maintain its current monetary policy, while the European Central Bank may reduce rates by 25 basis points tomorrow. The euro has exhausted its growth potential, having utilized all available upward factors. Once the price consolidates below 1.0350, further declines toward the key support level of 1.0135 are anticipated, with a possibility of breaking below parity.

Exchange Rates 29.01.2025 analysis

On the four-hour chart, the price is consolidating carefully above the balance and MACD lines, specifically at 1.0415. The support provided by the MACD line aligns with yesterday's low. If the price consolidates below this level or trades downwards, it could facilitate a movement towards 1.0350. The Marlin oscillator is currently horizontal and indicates a waiting period for this event to unfold within the context of a downward trend.

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Laurie Bailey,
Analytical expert of InstaSpot
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