EURUSD NEXT POSSIBLE MOVE

EURUSD
As of January 28, 2025, the EUR/USD pair is encountering significant overhead resistance, suggesting a potential opportunity for a **sell** entry.

**Market Pulse**

The EUR/USD is struggling below key resistance at 1.06 as traders await Federal Reserve and European Central Bank decisions. The pair has been in a downtrend, and the current rally may present a selling opportunity. ))

**Key Technical Levels**

- **Resistance:** 1.0600
- **Support:** 1.0300

**Technical Indicators**

- **Trend:** The pair remains in a downtrend, with the recent rally approaching significant resistance levels.
- **RSI:** The Relative Strength Index is approaching overbought territory, indicating potential for a reversal.
- **MACD:** The Moving Average Convergence Divergence shows diminishing bullish momentum, suggesting a possible downturn.

**Trade Recommendation**

Considering the technical indicators and the prevailing downtrend, initiating a **sell** position is advisable.

- **Entry Point:** Sell at 1.0580
- **Take Profit (TP):** 1.0300
- **Stop Loss (SL):** 1.0650

**Risk Management**

This trade setup offers a favorable reward-to-risk ratio. Ensure that your position size aligns with your risk tolerance and overall trading strategy.

**Conclusion**

The EUR/USD pair is facing significant resistance, and technical indicators suggest a potential reversal. Traders should monitor key levels and manage risk appropriately.

*Disclaimer: Trading forex carries a high level of risk and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.*