Here below please find attached the video-analysis of the Euro FX currency futures, the Dollar Index (4-hour timeframe) and the S&P500 e-mini for today January 16th:
The Euro found support at the 1.3280 area (with a stop below 1.3248), an extension long from lower levels. This support will only be confirmed if price slices the 1.3360 level on the upside. This would also confirm the two targets above: the first one at 1.3470 area, and the second one in the 1.3570, bringing price towards that potential short-term high in the 1.3670 area.
On the other hand, below 1.3248 the Euro could slide downwards towards the 1.3210 area of support. In that case we will need to re-evaluate price, but should that happen, the 1.3210 would be a good support level.
Price dynamics in the 4-hour char of the Dollar Index shows that it is trading an extension short with resistance at 79.90 with targets below. The sequence of measured move higher into that level of resistance broke confirming it. The confirmation of a continuation lower would be given if the index gets below 79.60. This would correspond to the Euro price piercing the 1.3360 level on the upside.
The S&P500 e-mini is trading a level of support at 1459 with a failure level (and stop-loss) below 1455. If this level holds the target is at 1477.
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