The refusal of Saudi Arabia to sign an agreement on the oil production suspension without the participation of Iran in it turned the defeat of “bulls” on Brent and WTI and regained interest to safe assets as the euro.
EUR/USD technical analysis and forecast on April 19
The EUR / USD currency pair returned to the 1.1300 level, on the four-hour chart the relative strength index shows a growth after the break of the trend line at the end of the last week. The basic plan is still the same: a correction to the ascending channel’s lower border is expected. Thus, the EUR / USD forecast for tomorrow considers a depreciation of the euro to the point around 1.1250.
