Currency pair Euro Dollar EUR/USD continues to move in the framework of the upward correction. At the time of the publication of the forecast, the euro/dollar rate is 1.1305. At the moment, we should expect an attempt to test the resistance level near the 1.1355 area. Where can we expect a rebound and the continuation of the decline of the Euro/Dollar with a potential target below the level of 1.1130.
Euro Dollar forecast & EUR/USD analysis November 15, 2018
The test of the broken trend line on the relative strength index (RSI) will be in favor of the EUR/USD quotes drop. As well as a rebound from the upper border of the bearish model «5-0». Cancellation of the option to reduce the quotes of the Euro/Dollar will be a strong growth and the breakdown of the level of 1.1410. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region at the level of 1.1550. Expect confirmation of a decline in the EUR/USD pair with the breakdown of the support area and closing below 1.1240.
Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: Changes in the volume of retail trade. A significant change is expected. This can provide strong support for the USD exchange rate.
Euro Dollar forecast & EUR/USD analysis November 15, 2018 suggests an attempt to test the resistance area near the 1.1355 level. Where can we expect a rebound and an attempt to continue to reduce the pair to an area below 1.1130. In favor of the fall of the pair will make a test trend line on the indicator of relative strength index (RSI). Cancellation of the option to reduce EUR/USD will be a strong growth and the breakdown level of 1.1410. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1550.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
