The currency pair Euro Dollar EUR/USD continues to move within the framework of growth. At the moment, quotes have broken through the upper limit of the «Wedge» model, we should expect the euro to continue to grow above 1.19.
EUR/USD prediction & technical analysis on October 12, 2017
Where again we should expect a rebound and a decline in the euro below the level of 1.1650 as part of the start of the development of the «Head and Shoulders» reversal model. In favor of the growth of quotations EUR/USD is a breakdown of the downward trend line on the indicator of relative strength index (RSI). Canceling the variant of growth of quotations of the euro dollar for Forex will be a decline and breakdown at the level of 1.1650, which will indicate the continuation of the pair’s decline.
EUR/USD prediction & technical analysis on October 12, 2017 suggests an attempt to continue growth in the area above the level of 1.19, from which it is expected to rebound and fall below the 1.1650 area as part of the development of the «Head and Shoulders» reversal pattern, the abolition of the EUR/USD pair breakdown at the level of 1.21, which indicates the continued growth.