The currency pair Euro Dollar EUR/USD continues to move within the correction. At the moment, we should expect a test of the support level near the area of 1.2305, where again we should expect an attempt to rebound and continue the growth of the euro dollar with a target above 1.2420.
EUR/USD forecast & technical analysis April 3, 2018
In favor of the growth of EUR/USD quotations, a support line test will be performed on the relative strength index (RSI), as well as a test of the lower limit of the bullish model «5-0». Cancellation of the variant of the Euro/Dollar price growth will be a breakdown at the level of 1.2250, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of the Euro/Dollar below the level of 1.2150. To expect confirmation of the development of the upward trend for the pair is with the breakdown of the upper boundary of the bearish channel and the closing above the level of 1.2460.
EUR/USD forecast & technical analysis April 3, 2018 suggests an attempt to test the support area near the level of 1.2305, from which we should expect a rebound and an attempt to continue the pair’s growth to the area above 1.2420 within the framework of working out the bullish «5-0» model.