EURUSD NEXT POSSIBLE MOVE

EURUSD

EUR/USD DAILY OUTLOOK - JAN 23, 2025: BUY OPPORTUNITY**

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**Market Pulse**
The EUR/USD pair is showing signs of recovery as the U.S. dollar faces slight weakening due to mixed economic data and cautious sentiment ahead of Federal Reserve announcements. The Euro gains support from improving Eurozone consumer confidence and stable manufacturing data.

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### **BUY ENTRY POINTS**

**Entry Levels:**
- **Buy Limit:** 1.0320 (near intraday support).
- **Buy at Market:** 1.0345 (upon bullish confirmation).

**Target Levels:**
- **Take Profit 1 (TP1):** 1.0375
- **Take Profit 2 (TP2):** 1.0410

**Stop Loss:**
- **Below Support:** 1.0295

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### **Key Technical Signals 🔍**
- **Trend:** Bullish rebound forming after a corrective phase.
- **RSI:** Climbing above 50, signaling increased buying momentum.
- **MACD:** Positive crossover, suggesting bullish momentum building.
- **EMA:** Price is testing the 20 EMA and could break above.

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### **Global News Impact 🌐**
- **US Dollar Eases:** Market caution leads to mild selling in the dollar as traders await clarity on Fed policy.
- **Eurozone Data:** Better-than-expected consumer confidence and manufacturing growth are boosting the Euro.

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### **Market Sentiment 📊**
- **Forex Client Sentiment:** 45% short, 55% long, slightly favoring buyers.
- **Myfxbook Sentiment:** 68% long, 32% short.

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### **Risk-Reward Ratio**
- **1:2** for conservative targets.
- **1:3** for extended bullish targets.

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### **Your Move**
Monitor the 1.0320 level for confirmation of support, or wait for a breakout above 1.0345 for market entry. Keep an eye on U.S. data releases that could impact the dollar’s movement.

*Disclaimer: Trading involves significant risk. Ensure proper risk management practices are in place.*