EUR/USD Forecast Euro Dollar August 21, 2019

Currency pair Euro/Dollar EURUSD continues to move as part of the correction and the formation of the «Triangle» model. Moving averages indicate the presence of a short-term bearish trend for the pair. At the time of the publication of the forecast, the Euro/Dollar rate is 1.1075. At the moment, we should expect an attempt to grow and test the resistance level near the area of ​​1.1155. Further, the rebound and continued fall of the Euro/Dollar currency pair. The potential target of this movement is the area below the level of 1.0905.

EUR/USD Forecast Euro Dollar August 21, 2019

An additional signal in favor of reducing the EUR/USD quotes will be a rebound from the downward resistance line on the relative strength index (RSI). The second signal will be a test of the upper boundary of the «Triangle» model. Cancellation of the option to reduce the quotes of the Euro/Dollar pair will be a strong growth and the breakdown level of 1.1235. This will indicate a breakdown of the resistance level and continued growth in the area at the level of 1.1375. Expect to accelerate the fall in the EUR/USD pair with the breakdown of the support area and closing below 1.1005.

Among the important news from Europe and America that may affect the EUR/USD pair, it is worth highlighting: United States Existing Home Sales, Federal Open Market Committee (FOMC) Minutes.

EUR/USD Forecast Euro Dollar August 21, 2019 implies an attempt to test the resistance area near the level of 1.1155. Where can we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.0905. In favor of reducing the currency pair, a test of a downward trend line on the relative strength index (RSI) will come out. Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1235. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1365.

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