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 rising channel near the area of 1.2250, where again we should expect an attempt to rebound and continue the growth of the euro dollar with a target above 1.2450 within the beginning of the bullish «5-0» model.
EUR/USD forecast & technical analysis March 20, 2018
In favor of the growth of EUR/USD quotations, a test of the support line will be made on the indicator of relative strength index (RSI). Cancellation of the variant of the Euro/Dollar price growth will be a breakdown at the level of 1.2200, which will indicate the breakdown of the support area and the continuation of the decline of the Euro/Dollar below the level of 1.2150. To expect confirmation of the development of the bullish trend for the pair is with the breakdown of the resistance area and the closing above the level of 1.2350.
EUR/USD forecast & technical analysis March 20, 2018 suggests an attempt to test the support area near 1.2250, from which one should expect a rebound and an attempt to continue the pair’s growth above 1.2450, the cancellation of the EUR/USD growth option will be a breakdown at the level of 1.2200, continued falling of the pair in the area below the level of 1.2150.
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