The currency pair Euro Dollar EUR/USD continues to move within the limits of the decline. At the moment, we should expect a resistance level test near the area of 1.2195, where again we should expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.2000.
EUR/USD forecast & technical analysis April 27, 2018
In favor of falling quotations EUR/USD will perform a bearish trend test of the support trend on the indicator of relative strength index (RSI). The cancellation of the variant of the Euro/Dollar price decline will result in a strong growth and breakdown at the level of 1.2210, which will indicate the breakdown of resistance and the continued growth of the Euro/Dollar above the level of 1.2350. To expect confirmation of the development of the bearish trend for the pair is with the breakdown of the lower border of the channel and the closing below the level of 1.1980.
EUR/USD forecast & technical analysis April 27, 2018 suggests a test of the resistance area near the level of 1.2195, from which we expect a rebound and an attempt to continue the fall of the pair to a level below 1.2000, the cancellation of the EUR/USD fall will be a breakdown at the level of 1.2210, which will indicate to continue the growth of the pair in the area above the level of 1.2350.