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The quantitative easing program will be completed by the end of this year, as it was planned. Thus, in the global perspective, the dollar still remains a more attractive asset for investment, given the differential in interest rates in the US and the EU.
ImranMughal99's Blog
EURUSD DOWN TREND NEXT MONTH
The trend stays downwards. Most likely, the pair will continue to decline but before, it can consolidate within the narrowing channel of 1.1510–1.1665. A sharp fall from the current level in case of the publication of positive US data is less likely. The main scenario is the growth from the minimum at 1.1510 to the levels of 1.1600, 1.1665 and the formation of a new downward wave with the target at 1.1430 (the strongest support level). Technical indicators confirm the forecast, MACD short positi…
EURUSD UP TREND NEXT MONTH
On the H4 chart, the pair is trading near the bottom line of Bollinger Bands, the price range is extended.MACD histogram is in the negative zone, the signal line is crossing the zero line and the body of the histogram from above, which is a signal to open short positions.Support levels: 1.2100, 1.2055, 1.2028, 1.1975.Resistance levels: 1.2205, 1.2228, 1.2348, 1.2370, 1.2400, 1.2420, 1.2450.
EURUSD UP TREND NEXT MONTH
The pair is moving sideways within the narrow channel, formed by the upper border and the middle line of Bollinger Bands, the price range is narrowed. MACD histogram is in the positive zone, keeping buy signal.1.2420, 1.2450, 1.2490
EURUSD DOWN TREND NEXT MONTH
On the H4 chart, the pair demonstrates side movement within the narrow corridor formed by the borders of Bollinger Bands. Price range is narrowed. MACD histogram is in the negative zone keeping a signal for the opening of sell positions.Support levels: 1.2205, 1.2176, 1.2155, 1.2028, Resistance levels: 1.2348, 1.2370, 1.2420, 1.2450, 1.2490.
EURUSD DOWN TREN NEXT MONTH
The main forecast is the maintenance of the upward momentum with the targets at 1.2400, 1.2420, and a formation of the deeper downward correction with the targets at 1.2350, 1.2210.The main catalyst of the pair’s fall will be the change of the trading moods in the upper border of the wide upward range. The investors will close profitable long positions and open short ones counting on the correctional decrease. However, the trend will stay upwards, and after the correction the pair will grow and …
EURUSD UP TREND NEXT MONTH
The European currency against the US dollar continues to trade in a broad rising channel. Since the middle of this month, the euro has appreciably strengthened against the dollar, and after the key resistance seemed that the European currency gained strength and the pair will continue to rise to local highs of 1.1950, 1.2030, and 1.2100.
Support levels:
1.1830, 1.1800, 1.1785, 1.1775, 1.1730, 1.1715
Resistance levels:
1.1900, 1.1940, 1.1950, 1.1980, 1.2030, 1.2100.
Support levels:
1.1830, 1.1800, 1.1785, 1.1775, 1.1730, 1.1715
Resistance levels:
1.1900, 1.1940, 1.1950, 1.1980, 1.2030, 1.2100.
EURUSD UP TREND NEXT MONTH
Analysis: a descending correction is supposed to continue developing within 4-hour frame in the form of the wave (2), with the wave A formed and an ascending correction in the form of the wave B developing inside. Apparently, an ascending impetus is now developing in the wave a of B. If the presumption is correct, the price will continue rising to the levels of 1.1940 The level 1.1650 may be critical in this scenario.
EURUSD DDOWN TREND NEXT MONTH
MACD indicates that momentum is improving, but it remains in Bullish territory. I expect the histogram as well as moving average to approach the centerline during the expected move lower. RSI is trading in territory and a breakout should initiate the rally.Current Level (a)1.1834 I expect the pair to be trading near 1.1600 towards the end of the forecast period which will conclude on the 1st of December, 12:00 GMT Ideally, the pair will follow the expected price path as outlined (v) on the chart…