EUR/USD Forecast 2019: At the starting line of a tedious and rough jorney

UER/USD Forecast

Two things controlled the monetary world this 2018: political unrest and fears of abating financial growth. The first was very predictable with Brexit and Trump’s triumph in the US however the second took the market down on the Q3 and Q4 of the year. It was not far ago when EU’s growth hit record highs, as per Markit, with business growth went down to its most reduced pace of growth in more than four years in December.

Technical Overview

 
 The pair heads into the Asian opening trading simply over the 61.8% retracement of the 1.1419/1.1175 decrease at around 1.1330, holding a positive position in the present moment in spite of the constrained upward momentum. In the 4 hours chart, the pair stays over a bullish 20 SMA which currently remains around the 38.2% retracement of the referenced slide. Technical Indicators broadened their consolidative stage well over their mid-lines before continuing their advances, presently nearing overbought domain. Further gains appear to be currently likely, with the quick opposition at 1.1375. 
 
Bolster levels: 1.1300 1.1265 1.1220 
 
Obstruction levels: 1.1375 1.1410 1.1445

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