What To Expect From EUR/USD Soon?

Hello, friend! All the world community now watch carefully on the United Kingdom and the events from there. However, to consider that other currencies will not be affected by the circumstances there would be far beyond the cutoff.

The upcoming Brexit exacerbates problems in the US and the Eurozone, though, the primary targets for analysis are now the GBP and the EUR, which can bring a fortune to somebody or, on the other hand, bitterness of ruin. We've decided to reduce risks, step away from EUR/GBP and come closer to EUR/USD.

Picture 1. A chart of EUR/USD for 11.01.2019 - 11.02.2019.

As we can see in picture 1, traders have touched and found the points of resistance and support, close to the points 1,1464 and 1,135 correspondingly.

Picture 2. A chart of EUR/USD for 11.01.2019 - 11.02.2019 with the lines of resistance (red line) and support (green line).

In picture 2 we can see lines of support and resistance that show the turn points of the EUR/USD price very clear. However, we've already get accustomed that only technical justification is not enough and it is necessary to make a fundamental assessment confirming or refuting the technical assessment.

As you may have already guessed, we are going to speak about the positions of big traders.

Picture 3. A chart of the EUR/USD price for 11.01.2019 - 11.02.2019 and a chart of assessing the changes in the net positions of big market traders.

As we can see from picture 3, the chart of assessing the changes defines turn points quite good. Also, changes in the current positions of big traders indicate quite clearly that shortly we should expect a price reversal for the instrument. It is because the changes in the volume of the position happened not only in a directional way but also with increased intensity.

Based on this analysis, we propose to increase the number of "UPPER" positions because there is a high probability of a price reversal to 1,1375 USD per Euro and higher.