Technical analysis and forex forecast of the euro dollar (EUR / USD) as of today 01/24/2017
On Monday, news calendar was weak, and the mood in the market to set the pace of the dollar price movement. Growth of euro, mainly determined pessimism of investors after the speech of the new president's inauguration. Today, trading volatility may vary, as it is expected a slight decrease in the index of business activity in Germany's manufacturing sector this month.
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Euro Dollar situation on 01/24/2017
At the auction kept the mood to buy a third straight session on Monday Eurocurrency. In early trading the euro reached 1.0750, which stopped the further growth of the pair. After testing this mark pair pulled back, keeping the future of the European session on bullish sentiment. The single European currency continued its descent before the start of trading in the United States. On the hourly chart the price has continued to trade significantly above the moving averages. 50-EMA-EMA 100 crossed upwards. Moving averages are directed upwards on the same chart. Resistance is located at 1.0750, and 1.0700 support.
The MACD histogram has increased, which indicates the strengthening of customer positions. RSI remained in the overbought zone, intending to climb.
Forecast EUR / USD 24.01.2017
On the 4-hour chart, the bullish sentiment prevailed. That the breakdown is expected to up the level of 1.0750 will pave the way for further growth of the EUR / USD to the 1.0800 mark. If prices rebound from the level of 1.0750, the pair may fall to 1.0650.
* Analytical review of the broker of Fort the Financial Services , analyst Alexander Kofman
