empty
 
 
30.01.2026 02:56 PM
Trading Signals for EUR/USD for January 30-31: buy above 1.1940 (21 SMA - 6/8 Murray)

This image is no longer relevant

EUR/USD is trading at 1.1949 within the trend channel formed since January 9 and consolidating within this channel, awaiting a technical rebound during which the instrument could reach the 7/8 Murray around 1.2085.

If the euro consolidates above the 6/8 Murray located at 1.1962, this could be seen as a positive sign, and we could expect EUR/USD to reach 1.2085 or even the top of the uptrend channel around 1.2170.

Conversely, a sharp break of the uptrend channel and consolidation below 1.1890 could be a critical scenario for the euro. Below this level, EUR/USD could reach the 4/8 Murray around 1.1718 and finally the 3/8 Murray at 1.1596.

Given that the euro is overbought, we could look for an opportunity to open long positions only if EUR/USD consolidates above the 21 SMA and above the 6/8 Murray.

Since the Eagle indicator is showing a negative signal, we could perhaps expect a technical rebound towards the resistance zone of 1.2000 or 1.2025. Then, both levels could be a point to enter short positions.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Dimitrios Zappas
Start trade
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
  • 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