The currency pair Euro Dollar EUR/USD continues to move within the framework of working out the bearish model of «Wolfe Wave». At this point, we should expect an attempt to test the level of 1.2020 and the beginning of the fall of the euro dollar with the first goal below the level of 1.1820.
EUR/USD forecast & technical analysis January 9, 2018
In favor of falling quotes EUR/USD is the formation of the reversal model «Head and Shoulders» on the indicator of relative strength index (RSI). Cancellation of the variant of the Euro/Dollar price drop will be a breakdown at the level of 1.2160, which will indicate the cancellation of the bearish model of the «Wolfe Wave» and the continued growth of the Euro/Dollar pair above 1.2250. Expect to accelerate the fall of the pair is with the breakdown of the level of 1.1980.
EUR/USD forecast & technical analysis January 9, 2018 suggests a test of the level of 1.2020, from which it is expected to continue falling of the pair in the area below 1.1960, within the framework of working out the bearish model of «Wolfe Wave», the cancellation of the EUR/USD fall will be a breakdown at level 1.2160, indicating that the growth continues and the descending model is canceled.