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Forecast Euro dollar EUR / USD for tomorrow January 4, 2021

The trading session of the week the euro against the dollar opened with a small gap up, and now the EUR / USD rate is at the level of 1.2240.

The quotes of the main currency pair are inside the ascending channel for the second month already. This week does not bode well yet. The support level for the currency rate is both the channel border and the Ichimoku cloud located there (level 1.2200).

An additional signal in favor of the continued growth of the EUR / USD quotes on 01/04/2021 is the fact that the fast blue line of the Ichimoku indicator is still above the slow red one.

Forecast Euro dollar EUR / USD for tomorrow January 4, 2021

A short-term depreciation of the euro / dollar is possible in order to test the support level of 1.2200. The resistance level will be the upper border of the ascending channel at 1.2370. If the euro / dollar rate is fixed above this level, the way will be opened for testing the level of EUR / USD for 2018 - 1.2560.

Thus, the forecast for the euro dollar for January 4, 2021 assumes a short-term decline in EUR / USD quotes, followed by an increase to the level of 1.2370.

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