EUR / USD forecast of the Euro Dollar exchange rate for 01/14/2021
At the moment, the indicator of the Euro / Dollar rate is moving within the recession, it is at the level of 1.2173. Movements are being made that exceed the cloud of the technical indicator Ichimoku and indicate that the bears have the advantage now.
As of tomorrow, January 14, 2021, the bearish trend will have an advantage on the EUR / USD rate, this will be confirmed by testing near the level of 1.2205, after which it will remain in the downtrend. From this level will follow the forecast of price marks for the course, which will be directed to the mark 1.2005.
A test of such a downward trend will be testing of the support area, which will be complemented by a change in the direction of prices from the lower line of the ascending channel. When passing through the resistance area, as well as when the price changes above the level of 1.2205, one should notice a further rise in the downward direction, which will follow to the level of 1.2005.
However, one should not exclude the possibility of an upward trend in the quotes of the price level of the Euro against the US Dollar, the consequence of which will be the advantage of the “bulls”. Also, in the future, a change in the price level will be expected with an increase to the level of 1.2285. In the future, we should expect the fixing of the upward direction, after which the growth of quotations will follow near the level of 1.2475.
Based on the above, it should be noted that tomorrow, January 14, 2021, the EUR / USD rate will test the level of 1.2205, after which the bears will have the advantage. In the future, the rate quotes will fall and head towards the 1.2005 mark, which will be verified by testing the support level. But do not forget the possibility of an upward trend for tomorrow, as a consequence of which the Euro / US Dollar rate will break the level of 1.2285. The bulls will have the advantage and the quotes will go to the level of 1.2475.
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