EUR/USD analysis for January 10, 2019 - ConsultFX

EUR/USD analysis for January 10, 2019


Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1569. Anyway, according to the H4 time frame, I found that the price rejected from the upper Keltner band (2.5 standard deviation), which is a sign that buying EUR/USD at this stage looks risky due to the potential overbought condition. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.1485 and at the price of 1.1423.

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