Forecast for EUR / USD pair on January 4, 2019

On Thursday, the euro decided to bring the correction to end, that is to possibly move towards strong technical resistance levels, which turned out to be the price channel line on the daily scale chart and the MACD trend indicator line on the four-hour chart. this morning's turn from the MACD line coincides with the downward turn of the Marlin oscillator from the zero line. It can be assumed that growth has been completed on this, especially with the expectation of strong US employment data. Yesterday's data on jobs in the private sector from ADP showed an increase of 271 thousand in December, which is an extremely high figure for the month compared to the forecast of 179 thousand. It collapsed from 59.3 to 54.1. The American media found the cause to be the slowdown of the Chinese economy. The forecast for today's Non-Farm Employment Change is 179 thousand versus to the earlier 155 thousand. We are waiting for the decline of the euro to 1.1307 and further in the range of 1.1270 / 85.

The material has been provided by InstaForex Company - www.instaforex.com