Forecast for EUR / USD for December 31, 2018

EUR / USD

On Friday, trading volumes on the euro were above average with a range of only 46 points, which shows us about the ongoing repositioning of investors. The price remained below the Kruzenshtern line on the daily scale, which lowers the probability of a breakthrough upwards. But this option is preserved on the first trading day of the new year, January 2. Opening with a rising gap, a price increase in the range of 1.1526 / 75 will be a good sign of a price reversal for a medium-term decrease. The opening of the new year with a decreasing gap will extend the range of trade near the price channel line, as it has been since mid-November. But in the future, we are also waiting for the mid-term decline in the euro.The four-hour chart shows the general mood of the price up, the trend for all indicators is rising. But the signal line of the Marlin oscillator came close to the border of lowering the trend, and the price attempt to test the Kruzenshtern line (1.1403), which is very possible, since the balance line may remain lower than the price while not rapidly decreasing, it will allow the price to close this year under the price line daily timeframe channel.

Thus, the probability of opening the market in January with both increasing and decreasing is equal.The material has been provided by InstaForex Company - www.instaforex.com