Greetings, dear colleagues.
Today, 02/19/2020, I present to your attention forecasts of the likely price movement for four currency instruments.
1. The European currency, in its pursuit of a bearish scenario, has come to a potentially reversal support level, which is formed by the support line of the downtrend. It is advisable to work out the scenario for a purchase with the target of 1.0920, and if this target is successfully broken, the next goal is a downtrend line (resistance line), from which sales are already possible. But more about that in other forecasts.
2. It is located as close as possible to the strongest support level formed by the downtrend support line and the horizontal support level from the December low of 2019. Their intersection is a strong point from which a trend reversal or, at least, a deep correction is quite possible. The target of the likely “bullish” movement is the level of 0.8386, which we will talk about in future forecasts.
3. The situation is as similar as possible to a “picture” from a currency pair. There is also a support zone formed by two lines: an inclined support line for the downward medium-term movement of the pair and a horizontal support line. The BUY scenario is best worked out after correction to the level of 118.31 with the target at 119.50 and further 119.82.
4. . No matter how banal and simple the forecast may sound, we continue to sell, because after a false “bull” break through we had no choice but to sell the American dollar with a target at the 32nd figure – 1.3200.
Thank you for your attention, dear colleagues. Follow the forecasts of the Investing project and subscribe to my profile so as not to miss the potentially profitable entrances to the market.
Forecast for EUR / USD, EUR / GBP, EUR / JPY & USD / CAD
Forex Forecast 02/19/2020 by EUR / USD, EUR / GBP, EUR / JPY & USD / CAD