Currency pair Euro/Dollar EUR/USD continues to move in the framework of decline. At the time of the publication of the forecast, the euro/dollar rate is 1.1429. At the moment, we should expect an attempt to reduce and test the support level near the 1.1405 area. Where can we expect a rebound and continued growth of the euro/dollar currency pair. A potential goal of such a movement is the area above the level of 1.1595.
EUR/USD Forecast Euro Dollar January 16, 2019
A test of the rising trend line on the relative strength index (RSI) will be in favor of raising the EUR/USD quotes. As well as a rebound from the lower boundary of the rising channel. Cancellation of the growth rate of the euro dollar quotes will fall and the breakdown level of 1.1355. This will indicate a breakdown of the lower boundary of the channel and a continuation of the decline in the region at the level of 1.1245. Expect confirmation of growth in the EUR/USD pair with the breakdown of the resistance area and closing above the 1.1510 area.
Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: Changes in the volume of retail trade.
EUR/USD Forecast Euro Dollar January 16, 2019 implies an attempt to test the support area near the level of 1.1405. Where can we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1595. In favor of the growth of the currency pair will test the ascending line on the indicator of relative strength index (RSI). Cancellation of the growth option EUR/USD will be the fall and the breakdown level of 1.1355. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the pair into the area below the level of 1.1245.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
