Currency pair Euro/Dollar EURUSD continues to move as part of the correction. 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 1.1150. At the moment, we should expect an attempt to reduce and test the support level near the area of 1.1085. Further, the rebound and the beginning of the rise of the Euro/Dollar currency pair. The potential target of this movement is the area above the level of 1.1315.
EUR/USD Forecast Euro Dollar August 6, 2019
In favor of the growth of the EUR/USD quotes, a rebound from the downward resistance line on the relative strength index (RSI) will come out. The second signal will be a test of the support area. Cancellation of the growth option for the quotes of the Euro/Dollar pair will be a fall and a breakdown of the level of 1.1045. This will indicate a breakdown of the support level and a continued decline to the area at 1.0930. Expect acceleration of growth for the EUR/USD pair is with the breakdown of the upper boundary of the downward channel and closing above 1.1185.
Among the important news from Europe and America that may affect the EUR/USD pair, it is worth highlighting: United States JOLTS Job Openings.
EUR/USD Forecast Euro Dollar August 6, 2019 implies an attempt to test the support area near the level of 1.1085. Where can we expect a rebound and an attempt to continue the growth of the pair in the area below the level of 1.1315. In favor of the rise in the currency pair, a test of the broken trend line on the relative strength index (RSI) will come out. Cancellation of the growth option EUR/USD will be a fall and a breakdown level of 1.1045. This will indicate a breakdown of support and continued decline in the pair to the area below the level of 1.0930.
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