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22.01.201908:10 Forex Analysis & Reviews: Forecast for EUR / USD for January 22, 2019

Long-term review

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EUR / USD

Yesterday's trading without the participation of American market participants went smoothly, investors ignored both positive Chinese data and weakened European ones. Industrial output in China in December showed an increase of 5.7% y / y against 5.4% y / y in November, retail sales increased from 8.1% y / y to 8.2% y / y. In Germany, the producer price index in December decreased by -0.4%. The euro was held below the balance line of the daily timeframe.

Today, the ZEW business sentiment index in Germany for the current month is expected to deteriorate from -17.5 to -18.8, a similar indicator for the euro area as a whole is predicted to be slightly better: -20.1 against -21.0 in November.

There are no more significant optimism reasons, so the euro will continue to decline, started on January 10th. On the four-hour chart, the signal line of the oscillator marlin turns down from the border with the growth zone.

The goal of 1.1302 is at least October 31st. Fixation below the level offers the prospect of a decline to 1.1195.

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