empty
30.01.2025 05:01 AM
Forecast for EUR/USD on January 30, 2025

After the Federal Reserve meeting, which was notably neutral, the euro demonstrated a clear reluctance to lose ground, similar to other major markets. Overall, the day unfolded quietly. The lower shadow of the daily candle extended the euro's trading range to between 1.0350 and 1.0458. Since the lower boundary of this range is strengthened by the MACD line, the primary bearish scenario targeting 1.0135 is becoming increasingly challenging.

This image is no longer relevant

Today, however, we have the European Central Bank meeting. The market generally expects a 0.25% decrease in the main rates. Before the ECB's announcement, data on employment and GDP for the Eurozone will be released. Unemployment for December is anticipated to remain at November's level of 6.3%, while GDP growth is expected to be only 0.1%, down from 0.4% in Q3. Additionally, German GDP for Q4 may show a decline of 0.1%. Collectively, these events could potentially push the euro below the support level of 1.0350. A price consolidation below this level would open the target of 1.0135.

This image is no longer relevant

On the 4-hour chart, there is additional resistance at 1.0433, indicated by the MACD line. Considering both time frames cumulatively, the euro's position appears weaker than it was yesterday. We are awaiting the ECB's decision on monetary policy.

Laurie Bailey,
Analytical expert of InstaTrade
© 2007-2025
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.