EUR/USD Forecast Euro Dollar February 1, 2019

Currency pair Euro/Dollar EUR/USD continues to move in the ascending channel. At the time of the publication of the forecast, the euro/dollar rate is 1.1476. At the moment, we can expect an attempt to grow and test the resistance level near the 1.1525 area. Further, the continuation of the fall of the currency pair Euro/Dollar. A potential target of such a movement is the area below the level of 1.1225.

EUR/USD Forecast Euro Dollar February 1, 2019

In favor of reducing the EUR/USD quotes, the resistance line test on the relative strength index (RSI) will come out. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1585. This will indicate a breakdown of the upper boundary of the downward channel and continued growth in the region at the level of 1.1775. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the lower boundary of the ascending channel and closing below 1.1305.

EUR/USD Forecast Euro Dollar February 1, 2019

Among the important news from Europe and America that may affect the rate of the EUR/USD pair, it is worth highlighting: Consumer price index, Unemployment rate, Change in the number of people employed in the non-agricultural sector, ISM Production Index.

EUR/USD Forecast Euro Dollar February 1, 2019 implies an attempt to test the resistance area near the level of 1.1525. Where should we expect a rebound and an attempt to continue to reduce the pair to an area below 1.1225. In favor of the fall of the currency pair will test the trend line on the indicator of relative strength index (RSI). Cancellation of the option to reduce EUR/USD will be a strong growth and the breakdown level of 1.1585. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1775.


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