The currency pair Euro Dollar EUR/USD continues to move within the correction. At the moment, we should expect a test of the lower border of the bullish channel and the continuation of growth above the level of 1.1930, as part of the start-up of the bullish model «5-0».
EUR/USD prediction & technical analysis on October 17, 2017
In favor of the growth of quotations EUR/USD is the test of the support line on the indicator of relative strength. Cancellation of the variant of growth of quotations of the euro/dollar on Forex will be a drop and breakdown at the level of 1.1740, which will indicate the breakdown of the lower border of the channel and the continuation of the decline. Expect to accelerate the growth of the pair is with the breakdown of the level of 1.1850.
Important news from Europe and America, which can influence the rate of the EUR/USD pair, is not expected, so the pair will continue to move in the technical analysis.
EUR/USD prediction & technical analysis on October 17, 2017 suggests an attempt to test the region of the lower border of the channel near 1.18, from which it is expected to rebound and the pair rise above 1.1930 area within the «5-0» bullish model, breakdown at the level of 1.1740, which indicates the continuation of the fall below the area of 1.1650.