Currency pair Euro/Dollar EUR/USD continues to move within the correction and the upward channel. Moving averages indicate a short-term bullish trend for the pair. At the time of the publication of the forecast, the euro/dollar exchange rate is 1.1347. At the moment, we should expect an attempt to continue growth and test the upper boundary of the bullish channel near the area of 1.1370. Further, the rebound and the beginning of the decline in the currency pair Euro/Dollar. The potential target of such a movement and model testing is the area below the level of 1.1120.
EUR/USD Forecast Euro Dollar July 2, 2019
In favor of reducing the EUR/USD quotes, the test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the rising channel. Cancellation of the option of falling quotations of the currency pair Euro/Dollar will be a strong growth and the breakdown level of 1.1455. This will indicate a breakdown of the model boundary and a continuation of the ascent to the region at the level of 1.1605. Expect confirmation of a fall in the EUR/USD pair with the breakdown of the lower boundary of the ascending channel and closing below the level of 1.1200.
EUR/USD Forecast Euro Dollar July 2, 2019 implies an attempt to test the resistance area near the level of 1.1370. Where can we expect a rebound and an attempt to continue to reduce the pair to an area below the level of 1.1120. In favor of reducing the currency pair will test the resistance 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 1.1455. This will indicate a breakdown of the resistance area and continued growth of the pair to the area above the level of 1.1605.