The currency pair Euro to US Dollar EUR/USD continues to be traded within a downward correction. At the moment, the pair is testing the support area, we should expect an attempt to rebound into the area of 1.1970 and lower the quotations of the euro/dollar in the area below the level of 1.1830.
EUR/USD forecast & analysis Euro Dollar on August 31, 2017
In favor of the decline is the breakdown of the bullish support line on the indicator of relative strength index (RSI). Cancellation of the variant of the fall in the quotes of the euro dollar for Forex will be a strong growth and breakdown at the level of 1.2090, indicating that the pair continues to grow with a potential target above 1.2350. Expect to accelerate the fall of the pair is with the breakdown of the level of 1.1810.
Among the important news from Europe and America, which can affect the rate of the euro, the dollar should be highlighted: The number of initial applications for unemployment benefits, is expected to slightly change from 234K to 237K, which may provide short-term support for the US currency.
EUR/USD forecast & analysis Euro Dollar on August 31, 2017 involves an attempt to test the level of 1.1970 and continue the decline with the target at 1.1830, an additional signal in favor of the fall is the breakdown of the trend line on the indicator of relative strength index (RSI), the cancellation will be a strong growth of the euro above the level of 1.2090.
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