The currency pair Euro Dollar EUR/USD continues to move within the framework of a bearish correction. At the moment, we should expect a test of the broken channel’s upward channel and continuation of the fall of the pair below the level of 1.1650, within the framework of the beginning of the development of the «Head and Shoulders» reversal model.
EUR/USD prediction & technical analysis on October 19, 2017
In favor of falling quotes EUR/USD is the breakdown of the upward trend line on the indicator of relative strength index (RSI). Cancellation of the variant of the fall of quotations of the euro dollar for Forex will be strong and breakdown at the level of 1.1820, which will indicate the continuation of growth above the level of 1.1920. Expect to accelerate the fall of the pair is with the breakdown of the level of 1.1640.
EUR/USD prediction & technical analysis on October 19, 2017 suggests an attempt to test the lower border of the channel near 1.18, from which it is expected to rebound and fall below the 1.1650 area within the beginning of the development of the «Head and Shoulders» reversal model, breakdown at the level of 1.1820, which indicates the continuation of growth above the area of 1.1820.
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