Currency pair Euro/Dollar EUR/USD continues to move in the framework of decline. At the time of the publication of the forecast, the euro/dollar rate is 1.1369. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1445 area. Further, the continuation of the fall of the currency pair Euro/Dollar. A potential target of such a movement is the area below the level of 1.1170.
EUR/USD Forecast Euro Dollar February 7, 2019
In favor of reducing the EUR/USD quotes, a test of a broken trend line on the relative strength index (RSI) will be made. As well as a rebound from the upper limit of the model «Triangle». Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1535. This will indicate a breakdown of the resistance area and continued growth in the area at 1.1685. Expect confirmation of a fall in the EUR/USD pair with the breakdown of the lower boundary of the «Triangle» model and closing below 1.1285.
EUR/USD Forecast Euro Dollar February 7, 2019 implies an attempt to test the resistance area near the level of 1.1445. Where should we expect a rebound and an attempt to continue to reduce the pair to an area below the level of 1.1170. In favor of the fall of the currency pair will test the trend line on the indicator of relative strength index (RSI). Cancellation of the option to reduce EUR/USD will be a strong growth and the breakdown level of 1.1535. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1685.