Currency pair EUR USD continues to trade outside of the downward channel, indicating the potential continuation of the fall to below 1.0950. Cancellation option can become a strong growth in the euro dollar above the level 1.1070, which will indicate the return of quotation EUR USD into the channel and attempt to continue its growth.
EUR USD Euro Dollar Forecast on October 18, 2016
An additional signal in favor of the fall will test the breached border of the channel and test the descending trend line on the indicator of relative strength.
EUR USD Euro Dollar Forecast on October 18, 2016 suggests an attempt to fall in the rebound from the descending channel’s lower border with the potential target of the fall below 1.0950.
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