Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the bullish channel. Moving averages indicate a short-term bullish trend for the pair. Prices again push off from the area between the signal lines, which indicates pressure from buyers. At the time of the publication of the forecast, the Euro/Dollar rate is 1.1125. 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 continued growth of the Euro/Dollar currency pair. The potential target of this movement is the area above the level of 1.1265.
EUR/USD Forecast Euro Dollar December 20, 2019
An additional signal in favor of falling EUR/USD quotes will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of raising the quotes of the Euro/Dollar currency pair will be a fall and a breakdown of the level of 1.1015. This will indicate a breakdown of the support area and continued decline in the area at the level of 1.0895. Expect acceleration of growth for the EUR/USD pair is with the breakdown of the resistance area and closing above the level of 1.1205.
Among the important news from Europe and America, which may affect the rate of the EUR/USD pair, it is worth highlighting: United States Gross Domestic Product (GDP) q/q.
EUR/USD Forecast Euro Dollar December 20, 2019 involves the development of a correction and test of 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 region above the level of 1.1265. A test of the trend line on the relative strength index (RSI) will be in favor of the rise in the currency pair. Cancellation of the growth option EUR/USD will be a fall and a breakdown level of 1.1015. This will indicate a breakdown of resistance and continued decline in the pair to the area below the level of 1.0895.
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