Currency pair Euro/Dollar EUR/USD continues to move in the bullish channel. At the time of the publication of the forecast, the euro/dollar rate is 1.1362. At the moment, we should expect an attempt to fall and test the lower boundary of the channel near the area of 1.1335. Further, the continuation of the growth of the currency pair Euro/Dollar. A potential target of such a movement is the area above the level of 1.1485. Where to expect the completion of the formation of the «Head and Shoulders» reversal pattern and the continuation of the fall.
EUR/USD Forecast Euro Dollar January 23, 2019
A test of the support line on the relative strength indicator will be in favor of the EUR/USD quotes growth. As well as a rebound from the lower boundary of the bullish channel. Cancellation of the growth rate of the euro/dollar quotes will fall and the breakdown level of 1.1285. This will indicate a breakdown of the lower boundary of the channel and the continuation of falling into the region at the level of 1.1200. Expect confirmation of growth in the EUR/USD pair with the breakdown of the resistance area and closing above the level of 1.1415.
EUR/USD Forecast Euro Dollar January 23, 2019 implies an attempt to test the support area near the level of 1.1335. Where should we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1485. In favor of raising the currency pair will test the trend 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 1.1285. 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 1.1200.