Currency pair Euro/Dollar EUR/USD continues to move as part of the correction. At the time of the publication of the forecast, the euro/dollar rate is 1.1535. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1575 area. Where can we expect a rebound and fall in the currency pair Euro/Dollar. The potential target of such a movement is the area below the level of 1.1375.
EUR/USD Forecast Euro Dollar January 11, 2019
In favor of reducing the EUR/USD quotes, a test of the downward trend line 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 of the level of 1.1605. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region at the level of 1.1755. Expect confirmation of a decline in the EUR/USD pair with the breakdown of the lower boundary of the channel and closing below the area of 1.1290.
Among the important news from Europe and America, which may have an impact on the course of the EUR/USD pair, it is worth highlighting: Consumer price index, Consumer price index excluding prices for food and energy.
EUR/USD Forecast Euro Dollar January 11, 2019 suggests an attempt to test the resistance area near the 1.1575 level. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1375. The trend line test on the relative strength index (RSI) will be in favor of the decline. Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1605. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1755.
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