EUR/USD Forecast Euro Dollar December 13, 2019

Currency pair Euro/Dollar EUR/USD ontinues to move as part of the growth and formation of the «Wedge» model. Moving averages indicate a short-term bullish trend for the pair. At the time of the publication of the forecast, the Euro/Dollar rate is 1.1128. At the moment, we should expect an attempt to grow and test the resistance level near the area of ​​1.1165. 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 1.0935.

EUR/USD Forecast Euro Dollar December 13, 2019

An additional signal in favor of falling EUR/USD quotes will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the “Wedge” model. Cancellation of the option of falling quotes 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 in the area at the level of 1.1355. Expect to accelerate the fall in the EUR/USD pair with the breakdown of the support area and closing below the level of 1.1045.

Among the important news from Europe and America that may affect the EUR/USD pair, it is worth highlighting: European Union Leaders Summit, United States Retail Sales m/m.

EUR/USD Forecast Euro Dollar December 13, 2019 suggests the development of a correction and test of the resistance area near the level of 1.1165. Where can we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.0935. A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the currency pair. Cancellation of the option to reduce EUR/USD will be a strong growth and the breakdown level of 1.1225. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1355.

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