EURUSD Daily Pivot Points Analysis 29-Jan-2025

EURUSD Daily Pivot Points Analysis 29-Jan-2025

EURUSD is currently dominated by slight bearish volume today. The price is developing below the Daily Pivot Point at 1.0446, increasing the likelihood of further downward movement towards Daily S1 at 1.0399 or Daily S2 at 1.0366 ahead of the FOMC rate decision.

The price may react near the Daily support areas, raising the chances of testing the Daily Pivot Point at 1.0446.

If the price manages to rise above the Daily Pivot Point at 1.0446, the probability of a bullish movement increases, with targets at the Daily resistance areas, where it may also react and potentially move down again to the Daily Pivot Point at 1.0446.

Daily R3 - 1.0559
Daily R2 - 1.0527
Daily R1 - 1.0479
Daily Pivot Point - 1.0446
Daily S1 - 1.0399
Daily S2 - 1.0366
Daily S3 - 1.0319

You may find more details in the chart!
Thank you and Good Luck!

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