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EUR / USD forecast Euro Dollar for Monday January 11, 2021

Forex euro dollar forecast for Monday, January 11 is written before the end of the trading session on Friday. The current EUR / USD rate at the moment is 1.2245.

The euro dollar quotes have broken through the lower border of the ascending channel, and the eurodollar price is inside the Ichimoku cloud. Additional confirmation of the short-term trend reversal for the Eurodollar is that the fast signal line of the Ichimoku indicator has broken through the slow red signal line from top to bottom.

EUR / USD forecast Euro Dollar for Monday January 11, 2021

In order to assert with a high probability that the uptrend in the euro / dollar is changing to a downtrend, the price of the main currency pair must consolidate below the Ichimoku cloud, its lower border is now at 1.2220.

At the same time, you can right now place a pending sell order for the Euro Dollar at the level of 1.2320 (slightly below). Good volume. And the stop loss is above the resistance level of 1.2350. This could be a very good deal.

If the support level of 1.2220 is broken, the trend for EUR / USD will change to a downward one, and the forecast for the movement of the euro / dollar rate for the next week on January 11-17 will be downward, with an ultimate target of 1.2080. As you can imagine, 250 points is quite a weighty argument for selling the euro-dollar right now.

The cancellation of the forecast of the downward movement will be the renewal of the resistance level.

Thus, the EUR USD forecast for tomorrow, January 11, assumes a change in the downward trend, and a decline in the euro dollar rate.


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