Forecast for EUR / USD pair on January 25, 2019

EUR / USD pair

As we expected yesterday, market seized the euro. At the same time, Mario Draghi reinforced the negative tone regarding the economic development of the region as investors had expected, hinting at the EU's relationship with the UK. However, in the afternoon, the European business activity indicators for January were worse than expected results: Manufacturing PMI 50.5 vs. 51.5 expectations and Services PMI 50.8 vs. 51.5 expectations. In the evening, the US Manufacturing PMI for the same month was 54.9 points against the forecast of 53.5 and Services PMI 54.2 against 54.0. Euro eventually fell by 75 points.

On both daily and four-hour charts, the situation for all indicators has become bearish. After the price leaves at least yesterday, we are waiting for a decline towards the next target of 1.1195.

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