Euro tends to fall, eyes on ECB 30/1/2025

The EUR/USD pair remained within a narrow sideways range in the previous session, trading above 1.0380 and below 1.0450 without significant movement.

Technical Outlook:

• The pair remains below the key resistance levels of 1.0460 and 1.0485.
• The Stochastic indicator is positioned near overbought levels, suggesting potential downside pressure.

Key Levels to Watch:

• Below 1.0455: A continuation of the bearish trend is likely, targeting 1.0380.
  • Breaking 1.0380 could accelerate losses toward 1.0320, the next key support level.
  • A confirmed break below 1.0320 may strengthen the bearish move, extending toward 1.0230.
• Above 1.0455: A one-hour candle close above this level could signal a recovery, aiming for 1.0510 and potentially 1.0565.

Market Risks & Upcoming Data:

• High-impact events include the European Central Bank’s monetary policy statement, interest rate decision, and ECB President Lagarde’s press conference.
• Expect heightened volatility in response to ECB announcements.

Risk Warning: The market remains vulnerable to geopolitical uncertainties, and all scenarios remain possible.

Caution: The risk remains elevated due to ongoing geopolitical tensions, and all scenarios should be considered.

S1: 1.0380	R1: 1.0455
S2: 1.0350	R2: 1.0510
S3: 1.0320	R3: 1.0565