Currency pair Euro/Dollar EUR/USD continues to move in a strong fall. 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 1.1141. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1175 area. Further, the continuation of the fall of the currency pair Euro/Dollar. A potential target of such a movement is the area below the level of 1.1035.
EUR/USD Forecast Euro Dollar April 26, 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 1.1225. This will indicate a breakdown of the resistance area and continued growth to the area at 1.1315. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the support area and closing below 1.1115.
Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: United States Gross Domestic Product (GDP) q/q.
EUR/USD Forecast Euro Dollar April 26, 2019 implies an attempt to test the upper limit of the channel near the 1.1175 level. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1035. 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 increase and the breakdown level of 1.1225. This will indicate a breakdown of the resistance area and continued growth of the pair to the area above the level of 1.1315.
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