The currency pair Euro Dollar EUR/USD continues to move within the fall. At this point, we should expect a test of the lower border of the uplink near the area of 1.2245, where again we should expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.2130.
EUR/USD forecast & technical analysis April 6, 2018
In favor of falling quotations EUR/USD will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the variant of the Euro/Dollar price drop will be a breakdown at the level of 1.2320, which will indicate the breakdown of the channel’s borders and the continued growth of the Euro/Dollar above the level of 1.2430. To expect confirmation of the development of the downward trend for the pair is with the breakdown of the support area and the closing below the level of 1.2190.
EUR/USD forecast & technical analysis April 6, 2018 involves an attempt to test the border of the channel near the level of 1.2245, from which we expect a rebound and an attempt to continue the fall of the pair to below 1.2130, the cancellation of the EUR/USD fall will be a breakdown at the level of 1.2320, continued growth of the pair in the area above the level of 1.2430.