EUR/USD forecast Euro Dollar December 11, 2018


Currency pair Euro/Dollar EUR/USD continues to move in the framework of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the euro/dollar rate is 1.1412. At the moment, we should expect an attempt to decrease and test the support level near the 1.1385 area. Where can we expect a rebound and continued growth of the euro/dollar currency pair. A potential goal of such a movement is the area above the 1.1550 level.

EUR/USD forecast Euro Dollar December 11, 2018

In favor of the growth of the EUR/USD quotes, a test of the rising trendline on the relative strength index (RSI) will be made. Cancellation of the growth rate of the euro/dollar quotes will fall and the breakdown level of 1.1260. This will indicate a breakdown of the support level and a continued decline to the area at the level of 1.1120. Expect confirmation of the development of growth for the pair EUR/USD stands with the breakdown of the upper limit of the model «Triangle» and closing above the level of 1.1445.

EUR/USD forecast Euro Dollar December 11, 2018

Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: Producer price index.

EUR/USD forecast Euro Dollar December 11, 2018 implies an attempt to test the support area near the 1.1385 level. Where should we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1550. In favor of growth will make a test trend line on the indicator of relative strength index (RSI). Cancellation of the growth option EUR/USD will be the fall and the breakdown level of 1.1260. This will indicate a breakdown of support and the continuation of the fall of the pair in the area above the level of 1.1120.


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