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 1.1342. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1465 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 1.1150.
EUR/USD Forecast Euro Dollar January 25, 2019
In favor of reducing the EUR/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. As well as the formation of the adjustable «Head and Shoulders» model. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown of the level of 1.1595. This will indicate a breakdown of the resistance level and continued growth in the region at the level of 1.1745. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the lower boundary of the upward channel and closing below 1.1285.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: Change in the volume of orders for durable goods.
EUR/USD Forecast Euro Dollar January 25, 2019 implies an attempt to test the support area near the level of 1.1465. Where should we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1150. 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 1.1595. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the pair in the area below the level of 1.1745.