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Forecast for EUR / USD pair on December 18, 2018

EUR / USD pair

On Monday, the single currency itself has undertaken growth despite the deterioration in the economic data of the eurozone. Probably, investors were worried about the forthcoming decision of the Fed regarding the monetary policy prospects for the next year, as the pressure on the regulator due to the rapid pace of the rate hike increased. The eurozone trade balance fell from 13.0 billion euros to 12.5 billion in October while the consumer price index decreased from 2.0% y / y to 1.9% y / y in November. Later, the situation for the dollar was worsened by its own American indicators as the index of business activity in the manufacturing sector of New York collapsed from 23.3 to 10.9 in December. The activity in the housing market from the NAHB decreased from 60 to 56.

On the technical side, there are no conditions for growth. 120-point-wide range. The Marlin oscillator is a line formed. On the four-hour chart, the price reverses down from the balance line. It is a hike is over. If there is a tendency to increase, there is a one-year increase in the coming year. Of course, if the international situation escalates, it will be a weakening dollar. Yet, these are just general thoughts and concerns of investors, which is why the US stock market lost more than 2% yesterday.

Resolution of the situation, as the risk of price increase, may occur tomorrow but it may not happen. In order to form a stable upward trend for the euro, it is necessary to go above the MACD indicator line on a daily scale and more than 100 points at 1.1465 before it. The rising scenario suggests an increase to 1.1621 with the maximum from October 16. The main option suggests a continuation of the decline to 1.1170.

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The material has been provided by InstaForex Company - www.instaforex.com