10.01.201909:27 Forex Analysis & Reviews: Forecast for EUR / USD pair on January 10, 2019

Long-term review

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EUR / USD pair

On Wednesday, the euro rose by 102 points due to several reasons. During the day, Germany's November trade balance was better with 19.0 billion against expectations of 17.9 billion and 17.3 billion in October. Another is the unemployment rate in the eurozone dropped from 8.0% to 7.9%. In the afternoon, Fed officials namely Evans, Rosengren, and Bullard spoke in favor of further raising rates, warning about the "softness" of the minutes from the last Fed meeting a few hours later. Indeed, the protocol turned out to be mild and as uncertain as possible. It is no longer known how many times this year the regulator will change the rate. Therefore, the price chose to increase to our goal of 1.1620/40. A fixation over the target range can bring the price to 1.1730, which is the maximum of August last year.

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