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17.01.201909:13 Forex Analysis & Reviews: Forecast for EUR/USD on January 17, 2019

Long-term review

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EUR/USD

On Wednesday, in the absence of new exciting news, the euro fell by 21 points. Today it has already opened below the trend line of the price channel on the daily chart. The signal line of the Marlin oscillator was fixed in the trend reduction zone. On the four-hour chart, the downward trend has not changed, the Krusenstern indicator line has increased the downward slope, which is an independent indicator of the trend. The target to the low of October 31, 1.1302 is open. Fixation below the level opens a second target of 1.1195.

To reverse the upward trend, the price needs to overcome the resistance range of 1.1436/63, formed by the Krusenstern lines of both scales, but the probability of such an event is already low.

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