Daily Market Analysis 24.01.2023: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if the price trades above 1.08966 with take profit at 1.09051
Bearish Preference: 
A Sell position is envisaged if the price trades below 1.08782 with take profit at  1.08703
3:45 PM  USD Flash Services PMI

The dollar fell to its lowest in nine months on rising expectations that the Federal Reserve will revert to mini-rate hikes at its next meeting. Hedge fund Elliott has built a big stake in Salesforce but says it wants to work with existing management. Rival hedge fund Citadel made a record-breaking profit last year. The EUR/USD pair is trading virtually unchanged on Monday after being rejected from a fresh nine-month high above 1.0900 amid profit-taking flows. At the time of writing, the EUR/USD pair is trading at the 1.0865 area, back at square one, having retreated from its highest intraday level since April at 1.0926.

Analysis: SCRUM Team

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