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14.01.202505:25 Forex Analysis & Reviews: Forecast for EUR/USD on January 14, 2025

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The euro failed to overcome the support on the first attempt on the weekly chart. We hadn't expected such a bold move from the bears.

Exchange Rates 14.01.2025 analysis

Currently, the price is undergoing an upward correction. Convergence on the daily chart has strengthened, and we are awaiting the conclusion of the consolidation phase.

Exchange Rates 14.01.2025 analysis

If the price consolidates below the trendline on the weekly chart at 1.0211, this could open up a target of 0.9920. The intermediate levels to watch are at 1.0135 and 1.0030.

Exchange Rates 14.01.2025 analysis

On the 4-hour chart, today's price increase during the Pacific session was halted by the MACD line at 1.0278. Should the price gain the strength to surpass this high, growth could extend to 1.0350. The convergence has yet to complete its course.

Laurie Bailey
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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