The currency pair Euro Dollar EUR/USD continues to move within the framework of growth. At the moment, we should expect a test of the upper boundary of the bearish channel near the area of 1.2275, where again we should expect an attempt to rebound and continue the growth of the Euro/Dollar with a target above 1.2430.
EUR/USD forecast & technical analysis April 10, 2018
In favor of the growth of EUR/USD quotations, a test of the support line will be made on the indicator of relative strength index (RSI). The cancellation of the growth of the Euro/Dollar quotations will be a breakdown at the level of 1.2250, which will indicate the breakdown of the border of the channel and the continuation of the fall of the Euro/Dollar below the level of 1.2200. To expect confirmation of the development of the upward trend for the pair is with the breakdown of the resistance area and the closing above the level of 1.2355.
EUR/USD forecast & technical analysis April 10, 2018 involves an attempt to test the border of the channel near the level of 1.2340, from which we should expect a rebound and an attempt to continue the pair’s growth to the area above 1.2430, the cancellation of the EUR/USD growth option will be a breakdown at the level of 1.2250, indicating that continued falling of the pair in the area below the level of 1.2200.