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 1.1362. At the moment, we should expect an attempt to fall and test the lower boundary of the channel near the area of 1.1345. Further, the continuation of the growth of the currency pair Euro/Dollar. A potential goal 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 24, 2019
A test of the support line on the relative strength index (RSI) 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 1.1400.
Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: Publication of the ECB’s decision on the basic interest rate, Press conference of the ECB.
EUR/USD Forecast Euro Dollar January 24, 2019 implies an attempt to test the support area near the level of 1.1345. 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.