Currency pair Euro/Dollar EUR/USD continues to move as part of the fall. At the time of publication of the forecast, the euro/dollar rate is 1.1327. At the moment, we should expect an attempt of correction and a test of the resistance level near the area of 1.1365. Where can we expect a rebound and the continuation of the fall of the euro/dollar currency pair. The potential goal of such a movement is the area below the level 1.1185.
EUR/USD forecast Euro Dollar January 3, 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. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1515. This will indicate a breakdown of the resistance level and continued growth in the region at the level of 1.1585. Expect confirmation of a decline in the EUR/USD pair with the breakdown of the lower boundary of the ascending channel and closing below the area of 1.1295.
Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: ISM Manufacturing Index.
EUR/USD forecast Euro Dollar January 3, 2019 implies an attempt to test the resistance area near the level of 1.1365. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1185. The trend line test on the relative strength index (RSI) will be in favor of the decline. Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1515. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1585.