EUR/USD Forecast Euro Dollar April 16, 2019

Currency pair Euro/Dollar EUR/USD continues to move in the upward correction. Moving averages indicate the presence of a medium-term downward trend for the pair. At the time of the publication of the forecast, the euro/dollar rate is 1.1315. At the moment, we should expect an attempt to grow and test the resistance level near the area of ​​1.1335. Further, the continuation of the fall of the currency pair Euro/Dollar. The potential target of such a movement is the area below the level 1.1155.

EUR/USD Forecast Euro Dollar April 16, 2019

The test of the resistance line on the relative strength index (RSI) will be in favor of the fall in the EUR/USD quotes. The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the option to reduce the quotations of the currency pair Euro/Dollar will be a strong growth and the breakdown level of 1.1395. This will indicate a breakdown of the upper boundary of the downward channel and continued growth in the region at the level of 1.1485. Expect confirmation of a fall in the EUR/USD pair with the breakdown of the lower boundary of the ascending channel and closing below 1.1260.

Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: ZEW Germany Economic Sentiment Indicator.

EUR/USD Forecast Euro Dollar April 16, 2019 implies an attempt to test the upper limit of the channel near the level of 1.1335. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1155. In favor of the fall of the currency pair will test the area of ​​resistance 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 1.1395. This will indicate a breakdown of the resistance area and the continued growth of the pair to the area above the 1.1485 level.

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