18th January 2022 Technical Analysis

EURUSD

EURUSD horizontal shock on Monday, with the technical bias being bearish as lower lows were made during the recent downtrend.

The pair is currently trading near 1.14130，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.14220

Resistance level 2: 1.14350

Resistance level 3: 1.14500

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.14050

Support level 2: 1.13950

Support level 3: 1.13800

Today, the euro zone will announce the ZEW economic sentiment index data. Higher data indicates favorable to the euro, so it is bullish for the European and American currency pairs, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the EURUSD currency pair near the current level.

GBPUSD

GBPUSD fell on Monday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.36538，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.36630

Resistance level 2: 1.36800

Resistance level 3: 1.37000

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.36380

Support level 2: 1.36200

Support level 3: 1.36030

Today, the UK will release the number of new jobs in December last year. Higher data indicates favorable to the pound, so it is bullish for the GBPUSD currency pair, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the GBPUSD currency pair near the current level.