Forecast for EUR/USD on January 11, 2019


The euro adjusted yesterday, down by 42 points after a strong growth on Wednesday. But at the moment the technical situation has not changed. The euro remains in an upward trend, the target area of 1.1620/40 remains. Nevertheless, a significant bar – the resistance of 1.1575 is added to the technical picture, at least on July 19 last year, yesterday it was strengthened by the high of the day (did not reach 5 points, but this is not so important), and the price, if it intends to take the target range, then it is necessary to overcome it until tonight, as the report on the US budget for December will be released later, and it is expected to be the best for the entire crisis and post-crisis period (since 2007) for the month of December (-8.0 billion dollars).

For the downward movement, the euro has to solve three serious problems - to overcome the successive support: 1.1460 - support for indicator lines on H4, 1.146 - Krusenstern line on the daily half, 1.1402 – support for the embedded line in the price channel on the daily. Obviously, in one or even two days to do this without a strong incentive will hardly be possible, investors are focusing on a parliamentary vote on the agreement with the EU on Brexit on Tuesday.



The material has been provided by InstaForex Company -