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 1.1328. At the moment, we should expect an attempt to decrease and test the support level near the 1.1300 area. Where can we expect a rebound and continued growth of the euro dollar currency pair. A potential target of such a movement is the area above the level of 1.1600.
EUR/USD forecast Euro Dollar December 7, 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 1.1250. This will indicate a breakdown of the support level and a continued decline to the area at the level of 1.1120. Waiting for confirmation of the development of growth for the EUR/USD pair is with the breakdown of the upper boundary of the «Triangle» model and closure above 1.1435.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: The unemployment rate, NON-FARM PAYROLLS.
EUR/USD forecast Euro Dollar December 7, 2018 implies an attempt to test the support area near the level of 1.1300. Where can we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1600. 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 1.1250. This will indicate a breakdown of support and the continuation of the fall of the pair into an area above the 1.1120 level.