Top.Mail.Ru
empty
 
 
07.01.2025 05:23 AM
Forecast for EUR/USD on January 7, 2025

The EUR/USD pair has managed, although with some difficulty, to break beyond the 1.0350 resistance level. However, its attempt to approach the 1.0461 level was halted by the balance line indicator on the daily timeframe.

This image is no longer relevant

The signal line of the Marlin oscillator indicates a potential reversal from the edge of the growth territory. It seems that the two-day correction may be nearing its end. To confirm this reversal, the price needs to stabilize below the 1.0350 level.

On the four-hour chart, the price has risen above the MACD line but has not managed to stay above the balance line.

This image is no longer relevant

There is a possibility of a false breakout, which means that the price may soon drop back below the 1.0350 level, confirming a move under the MACD line. Additionally, the Marlin oscillator appears ready to fall below the zero line.

Yesterday's increase in the euro was attributed to a weaker-than-expected rise in the U.S. Services PMI for December, which recorded a value of 56.8, compared to the forecast of 58.5. However, this figure still indicates growth from November's reading of 56.1. Today, the ISM Services PMI is also expected to increase from 52.1 to 53.2.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback