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EUR/USD analysis for January 18, 2022 – Downside breakout and potential for bigger drop

Technical
analysis:

EUR/USD
has been trading downside and the EUR is testing key support at
1,1385. There is potential for the downside movement towards the
mean.

Trading
recommendation:

Due
to the breakout of the consolidation and the downside movement
towards key support I see potential for thee bigger downside
movement.

Watch
for selling opportunities with the downside targets at 1,1355 and
1,1320

Key
resistance is set at the price of 1,1432

The material has been provided by InstaForex Company – www.instaforex.com

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