EUR/USD Price Forecast January 5, 2018, Technical Analysis
The EUR/USD pair drifted a bit higher during the trading session on Thursday, reaching towards the 1.20891 level, touching a resistance zone and making a "double top". At this pivot point is better to wait the resistance breakout confirmation to buy with our target at the next pivot piont at 1.22482.
If the price couldn´t break above the resistance level, we could find a pullback to the 0.382 Fibonacci level which is also a previous resistance level that could become a support. If the price breaks below this level we could find a buying opportunity at the 0.618 Fibonacci level which match´s with a demand zone, to keep with the up trend.
If the price couldn´t break above the resistance level, we could find a pullback to the 0.382 Fibonacci level which is also a previous resistance level that could become a support. If the price breaks below this level we could find a buying opportunity at the 0.618 Fibonacci level which match´s with a demand zone, to keep with the up trend.