EURUSD 4H : Support further decline

1월 3일

EURUSD

New forecast

The euro/dollar pair ended yesterday's trading below the 1.0956 level, reinforcing expectations of a continuation of the downward trend in the immediate term, waiting to break the 1.0928 level and hold below it, heading towards visiting the 1.0877 and 1.0808 areas as the next main targets.

Therefore the downward scenario will be remain valid and effective during coming period supported by moving average 50 that is continue to support the price to decline ,taking into account that breaching 1.0956 and holding above it will push the price to try to build an upward wave and achieve gains.

The expect range trading for today it will be between the resistance line 1.0956 and support line 1.0808.

Additionally ,Today News will affect on the market .

resistance line : 1.0956 , 1.1012
support line : 1.0877 , 1.0808

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