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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Forecast for EUR/USD on January 9, 2020

EUR/USD

Yesterday, US President Donald Trump said that due to the lack of human casualties, there will not be a military resolution to Iran's missile attack on US military bases, only economic sanctions will be introduced. As a result, oil fell by 4.55% (the decline was 8.60% from the top of the day), gold fell by 1.19%. The euro fell by 47 points. The data on the correlation of commodities and geopolitical factors with the euro (the fall of the euro in any political situation) further strengthen the market sentiment to buy the dollar against other world currencies.

According to the ADP, the US private sector created 202 thousand jobs in December against the forecast of 160 thousand, which also affected the strengthening of the dollar and provides more optimism in anticipation of tomorrow's estimates of employment from the Department of Labor.

analytics5e16a358b166d.png

On the daily chart, the signal line of the Marlin oscillator has taken root into the zone of negative values - into the decrlining trend zone. The 1.1045 goal on supporting the embedded line of the blue price channel of a higher scale is maintained.

analytics5e16a36e8eb40.png

On a four-hour chart, the price falls below the indicator lines of balance and MACD, Marlin develops a decline. There are no reversal signs.

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