Currency pair Euro/Dollar EUR/USD continues to move in the bearish channel. At the time of the publication of the forecast, the euro/dollar rate is 1.1400. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1415 area. Where can we expect a rebound and the continuation of the fall of the euro/dollar currency pair. The potential goal of such a movement is the area below the level 1.1205.
EUR/USD forecast Euro Dollar December 20, 2018
The test of the broken trend line on the relative strength index (RSI) will be in favor of the EUR/USD quotes drop. As well as the formation of the descending model of the «Wolfe Wave». Cancellation of the option of falling quotes Euro Dollar will be a strong growth and the breakdown level of 1.1465. This will indicate a breakdown of the resistance level and continued growth in the region at the level of 1.1550. Expect to accelerate the fall in the pair EUR/USD stands with the breakdown of the support level and closing below 1.1325.
EUR/USD forecast Euro Dollar December 20, 2018 implies an attempt to test the resistance area near the level of 1.1415. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1205. In favor of the fall will make a test trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1465. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1550.
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