Forecast for EUR/USD on January 28, 2019


Last Friday, the White house and Congress reached a temporary agreement to end the shutdown. But this positive news was overshadowed by the arrest of Roger Stone, a former political adviser to Donald Trump, in connection with the "Kremlin case". In the Western business media, there is a stretch of pegging the dollar's decline to Stone's arrest; rather, there were mass closing of short positions at the end of the month. The information on the Fed's intention to complete the reduction of the balance before the scheduled date could have been more effective.

The United States and Europe, under US pressure, recognized the parliamentary leader of the Venezuelan opposition, Juan Guaido, as president of Venezuela during the weekend, thus supporting the political upheaval in that country. The event is definitely in favor of the dollar.

The growth of the euro on Friday was delayed by the Krusenstern daily scale line. With a high probability today, the euro will move down. The confirmation of this scenario will be the price fixing under the line of the price channel of the daily chart and under the Krusenstern line of the four-hour chart - 1.1382/90. The purpose of the decline will again be the level of 1.1302. Consolidating below it will open the way to 1.1195.

Further growth is possible after fixing the price above the Krusenstern line of daily scale - the target will be the high on November 7, 1.1500.



The material has been provided by InstaForex Company -