Contributors Technical Analysis EURUSD Lacks Clearer N/T Direction Signal While Trading Within 1.0657/1.0773 Congestion

EURUSD Lacks Clearer N/T Direction Signal While Trading Within 1.0657/1.0773 Congestion

The Euro eases from session high at 1.0738 in early Europe, but holding so far within near-term 1.0657/1.0773 congestion.

Weaker dollar keeps the single currency supported, along with bullishly aligned daily studies.

Daily Tenkan-sen is underpinning at 1.0680 and guarding pivot at 1.0657 (26/27 Jan higher base).

However, weekly close in long-legged Doji may signal stall of the rally from 1.0339 (03 Jan low), while 1.0773 peak stays intact.

Break out of 1.0657/1.0773 range is needed to give initial direction signal as near-term technicals are mixed.

Loss of 1.0657 trigger would risk weakness through 1.0607 (Fibo 38.2% of 1.0339/1.0773) and 1.0586 (55SMA) that would expose key near-term support at 1.0560 (daily cloud base, reinforced by Kijun-sen line).

On the other side, violation of multiple rejections at 1.0770 zone, would open upper pivot at 1.0824 (daily Ichimoku cloud top) and signal resumption of bull-leg from 1.0339 on firm break higher.

Res: 1.0738, 1.0773, 1.0824, 1.0872
Sup: 1.0680, 1.0657, 1.0607, 1.0586

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