Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.2334 and continues to move within the bullish channel. At the moment, we should expect an attempt to test the support area near the level of 1.2100 and continue growth to the area above 1.2850.
EUR/USD weekly forecast April 16 — 20, 2018
In favor of the EUR/USD growth, the line test will be supported on the relative strength index (RSI), as well as the test of the lower border of the bullish channel. The cancellation of the growth of the pair’s quotations in the current trading week will be a drop and breakdown at the level of 1.1950, which will indicate the breakdown of the lower border of the channel and the continuation of the pair’s fall into the area below the level of 1.1550.
EUR/USD weekly forecast April 16 — 20, 2018 suggests an attempt to fall into the support area near the level of 1.2100, where it is expected to continue growth in the area above 1.2850, in favor of growth will enter a trend line test on the indicator of relative strength index (RSI), the euro will fall and breakdown at the level of 1.1950, in which case we should expect the pair to continue falling with a potential target at the level of 1.1550.