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16.01.201908:21 Forex Analysis & Reviews: Forecast for EUR / USD for January 16, 2019

Long-term review

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EUR / USD

On Tuesday, the euro was pressured by two factors: the statement by the ECB head Mario Draghi about the weakness of the European economy and, accordingly, the need for more careful attention to accommodative policies, and the decision of the British parliament to reject Theresa May's agreement with the EU on Brexit. The euro lost 55 points, staying on the trend line of the daily price scale channel. Now, yesterday's minimum at 1.1382 will be a signal level to continue the decline with the target of 1.1302, the minimum of October 21.

To resume growth, the price must overcome the range of 1.1443 / 73, formed by the Kruzenshtern lines of the daily and four-hour charts. The goal, in this case, will be the maximum on January 10, 1.1570.

In general, the situation is more bearish, as the Marlin indicator on the daily scale has moved into the negative zone.

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