empty
 
 
11.01.2019 08:28 AM
Forecast for EUR/USD on January 11, 2019

EUR/USD

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.

This image is no longer relevant

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback