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 1.1398. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1425 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 1.1300.
EUR/USD Forecast Euro Dollar January 17, 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. As well as a rebound from the upper limit of the descending channel. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1485. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region at the level of 1.1545. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the support area and closing below 1.1370.
EUR/USD Forecast Euro Dollar January 17, 2019 implies an attempt to test the resistance area near the level of 1.1425. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1300. In favor of reducing the currency pair will test the trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1485. This will indicate a breakdown of the lower boundary of the channel and the continued growth of the pair in the region above the level of 1.1545.
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