The currency pair Euro to US Dollar EUR/USD continues to be traded within the framework of the bullish channel. At this point, we should expect an attempt to develop correction and lower quotations of the euro/dollar in the area of the lower border of the bullish channel near the level of 1.17.
EUR/USD forecast & analysis Euro Dollar on August 30, 2017
In favor of the decrease is the test of the resistance line on the indicator of relative strength. Cancellation of the variant of falling quotations of the euro/dollar on Forex will be breakdown at the level of 1.2170, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair with a potential target above 1.2350.
Among the important news from Europe and America, which can affect the rate of the euro, the dollar should be highlighted: The change in the number of employees from ADP, is expected to grow from 178K to 186K, which can support the US currency.
EUR/USD forecast & analysis Euro Dollar on August 30, 2017 involves an attempt to fall from current levels with a potential downside target near the lower border of the rising channel 1.17, an additional signal in the fall crossover is the trend line test on the relative strength indicator (RSI), the cancellation will be breakdown at 1.2170 level.
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