Home Tools The Analytical Overview Of the Main Currency Pairs On 2023.01.05

The Analytical Overview Of the Main Currency Pairs On 2023.01.05


By JustMarkets

The EUR/USD currency pairing

Technical indicators of the currency pairing:
  • Prev Open: 1.0545
  • Prev Close: 1.0603
  • % chg. in the last day: +0.55

According to the minutes of the Federal Reserve’s December meeting, Federal Reserve policymakers agreed that an extended period of restrictive policy would be needed to cool “unacceptably high” inflation. The Open Market Committee (FOMC) raised its rate target to a range of 5% to 5.25%. Neel Kashkari of the Minneapolis Fed predicts that the Fed would raise rates to 5.4%. After which, the Central Bank will take a long rest. Markets expect the Fed to raise rates by 0.25% at its next meeting on February 1, with an 84% probability of such a scenario.

Recommendations for trading
  • Support levels: 1.0574, 1.0554, 1.0528, 1.0483, 1.0361, 1.0332, 1.0284
  • Resistance levels: 1.0664, 1.0695, 1.0695

The EUR/USD currency pairing’s hourly trend is still bullish. The price is trading above the priority change level and at the level of the moving averages. The MACD indicator has been positive once again. Under such market conditions, buy trades are best considered from the support level of 1.0574 or 1.0554 on intraday time frames. You can also consider selling deals starting at the…

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