News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Euro Q1 Technical Forecast: Despite Year-End Losses, Near-term Gains Not Out of the Question

Euro Q1 Technical Forecast: Despite Year-End Losses, Near-term Gains Not Out of the Question

Jeremy Wagner, CEWA-M, Head of Education

Since its low from mid-August 2018, EUR/USD has been locked in a sideways correction. This sideways correction appears incomplete so be mindful of a strong move higher to clean the chart congestion out. The Elliott wave pattern since August appears to be an expanded flat pattern. Therefore, upside targets fall near 1.1760, 1.1815, 1.1870 and 1.2070. To suggest a EUR/USD rally may begin soon is EUR/USD’s failure to confirm DXY’s December 14 extreme, which tends to occur near important turns.

EUR/USD Price Chart: Weekly Timeframe (October 2014 to December 2018)

Euro Q1 Technical Forecast: Despite Year-End Losses, Near-term Gains Not Out of the Question

See the compete Q1'19 Euro forecast as well as forecasts for the other major currencies, equities, Gold, and Oil.

--- Written by Jeremy Wagner, CEWA-M, Head Forex Trading Instructor

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES