Currency pair Euro Dollar EUR/USD completes trading week by growth and rebound from fast moving average. The currency pair continues to move within the upward trend. On the current trading week, on May 15 — 19, 2017, one should expect an attempt of the support area test at the level of 1.0850 and the continuation of growth in the resistance area at the level of 1.10.
Technical analysis EUR/USD on May 15 — 19, 2017
With the breakdown of the pair resistance region EUR/USD will again meet the test of the upper border of the channel near the level of 1.11, so do not expect a strong euro growth, only the breakdown of this region will indicate the acceleration of the growth of the euro-dollar pair.
In case of a breakdown of the support level of 1.0850, it is expected to continue the decline in the region of the lower border of the rising channel, from where the euro can again continue its growth. In case of breakdown of the lower border of the channel, it is necessary to expect the end of EUR/USD growth and continuation of the downward trend development along with a potential target near parity.
Technical analysis EUR/USD on May 15 — 19, 2017 assumes an attempt of the support area test at the level of 1.0850 and the continuation of the growth of the pair’s quotes to the area above the level of 1.10 as part of the continuation of the upward trend development.
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