The currency pair Euro to US Dollar EUR/USD continues to be traded within the descending channel. At this point, we should expect a rebound to the upper channel boundary near the level of 1.18, where again we should expect a decline to the level of 1.1650.
EUR/USD forecast & analysis Euro Dollar on August 18, 2017
In favor of continuing the decline in the euro/dollar will test the downward resistance line on the indicator of relative strength index (RSI). Abolishing the variant of falling quotations of the euro/dollar will be a breakdown at the level of 1.1850 and a close above the upper border of the channel, indicating that the pair continues to grow with a potential target above area 1.19.
Important news from Europe and America is not expected, so the pair will continue to move within the technical analysis EUR/USD.
EUR/USD forecast & analysis Euro Dollar on August 18, 2017 involves an attempt to test the upper border of the channel near the level of 1.18, where we can expect the EUR/USD pair to continue its decline to 1.1650 area.
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