Forex EUR USD Forecast

Forex EUR USD Forecast - Daily published professional analytical forecasts for the main currency pair Market Forex: the EUR USD!

Technical analysis Forex of EUR/USD for 20.02.2019

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EURUSD: new upwards channel forming

On Tuesday the 19th of February, trading on the EURUSD pair started from 1.1310. It dropped to 1.1275 by midday before undergoing a sharp upwards reversal to reach our target of 1.1341. It then pressed on to hit 1.1355 before retreating to close the day below the newly broken resistance. The level to which the pair corrected (1.1341) is, first of all, the intraday high from the 13th of February, and secondly, it coincides with the 38.2% Fibonacci level of the decline from 1.1514 to 1.1233.

Technical analysis Forex of EUR/USD for 19.02.2019

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EURUSD: trend may reverse upwards in a couple of weeks

On Monday, trading on the EURUSD pair closed up by a decent amount. By close, the euro had appreciated by 0.11% to finish the day at 1.1308. The single currency has started the week by attempting to reverse the downtrend started at the beginning of February. The euro has lost 1.2% against the dollar since the beginning of the month. We could see this trend reverse in the coming weeks, and the euro may rise as far as 1.1340.

Technical analysis Forex of EUR/USD for 18.02.2019

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EURUSD: growth target at the 1.1341 resistance

In the first half of Friday’s trading, the EURUSD pair continued its decline within the downwards channel with a drop from 1.1294 to 1.1234 to revisit the low from the 13th of November of last year. However, the pair underwent a sharp reversal ahead of the US session, and went on to climb to 1.1308, breaking through the upper boundary of the downwards channel that has been dictating this pair’s trajectory since the end of January. The pair then closed the week at 1.1292.

Technical analysis Forex of EUR/USD for 14.02.2019

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The correction was a short-lived bounce and new low was made already.
The EUR/USD pair has bounced from the support at the level of 1.1258 and then tested the local technical resistnace at the level of 1.1341. Then the market reversed quickly as the bounce was very short-lived and the bears have managed to break throught he support at the level of 1.1258 and made a new low on their way down at the level of 1.1249.

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