EURUSD NEXT POSSIBLE MOVE

EURUSD
### **EUR/USD DAILY OUTLOOK - JAN 24, 2025: SELL OPPORTUNITY**

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**Market Pulse**
The EUR/USD pair is under renewed bearish pressure as the U.S. dollar gains strength amid hawkish Federal Reserve sentiment and weaker-than-expected Eurozone economic data. Risk-off sentiment in global markets further supports the dollar's safe-haven appeal.

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### **SELL ENTRY POINTS**

**Entry Levels:**
- **Sell Limit:** 1.0420 (near intraday resistance).
- **Sell at Market:** 1.0390 (after bearish confirmation).

**Target Levels:**
- **Take Profit 1 (TP1):** 1.0350
- **Take Profit 2 (TP2):** 1.0310

**Stop Loss:**
- **Above Resistance:** 1.0450

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### **Key Technical Signals 🔍**
- **Trend:** Bearish continuation as price remains below key EMAs.
- **RSI:** Below 45, indicating bearish momentum.
- **MACD:** Negative divergence, signaling continued downside pressure.
- **EMA:** Price trading below the 20 and 50-day EMAs, confirming bearish bias.

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### **Global News Impact 🌐**
- **Hawkish Fed:** Federal Reserve officials reiterate their commitment to higher interest rates to combat inflation, boosting the dollar.
- **Eurozone Data:** Poor economic sentiment indicators weigh on the Euro, adding to the pair's downside pressure.

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### **Market Sentiment 📊**
- **Forex Client Sentiment:** 58% long, 42% short, suggesting a contrarian bearish signal.
- **Myfxbook Sentiment:** 71% long, 29% short, heavily bullish sentiment could signal more downside.

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### **Risk-Reward Ratio**
- **1:2** for short-term targets.
- **1:3** for extended bearish moves.

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### **Your Move**
Look for selling opportunities around resistance levels and confirm bearish price action before entering. Monitor U.S. data releases, including jobless claims and PMI, which could impact dollar strength.

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