The currency pair Euro to US Dollar EUR/USD continues to be traded within the framework of the bullish channel. At the moment, we should expect a rebound from the support level of 1.17 and the beginning of growth in the area above the level of 1.19.
EUR/USD forecast & analysis Euro Dollar on August 16, 2017
In favor of the growth of the euro against the US dollar is the test of the support line on the indicator of relative strength index (RSI) on the daily chart of the pair. Cancellation of the variant of growth of quotations of the euro the dollar will be a breakdown at the level of 1.1650, which may indicate the outflow of quotes for the limits of the channel and the beginning of a decline with a potential target below area 1.10. Closing of quotations above 1.19.
Among the important news from Europe and America, which can affect the euro against the dollar, it is worth highlighting: The volume of issued construction permits, the publication of the minutes of the meeting of the Fed.
EUR/USD forecast & analysis Euro Dollar on August 16, 2017 involves an attempt to grow into the area above the level of 1.19, an additional signal is a tight test of the support line on the indicator of relative strength index (RSI).
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