Currency pair Euro/Dollar EUR/USD continues to move as part of the decline. Moving averages indicate a short-term bearish trend in the pair. At the time of the publication of the forecast, the euro rate to the US Dollar is 1.1233. At the moment, we should expect an attempt to grow and test the lower boundary of the bullish channel near the area of 1.1285. Further, the rebound and the continuation of the decline in the currency pair Euro/Dollar. A potential target of such a movement is the area below the level of 1.1090.
EUR/USD Forecast Euro Dollar June 18, 2019
The test of the resistance line on the relative strength index (RSI) will be in favor of the fall in the EUR/USD quotes. The second signal will be a rebound from the lower 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 1.1345. This will indicate breakdown of the channel boundary and continuation of the ascent to the region at the level of 1.1465. Expect confirmation of a fall in the EUR/USD pair with the breakdown of the lower boundary of the ascending channel and closing below 1.1175.
Among the important news from Europe and America that may affect the EUR/USD pair rate, it is worth mentioning: European Central Bank (ECB) President Draghi Speech, ZEW Germany Economic Sentiment Indicator, United States Building Permits.
EUR/USD Forecast Euro Dollar June 18, 2019 implies an attempt to test the resistance area near the level of 1.1285. Where can we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1090. 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 1.1345. This will indicate a breakdown of the resistance area and continued growth of the pair to the area above the level of 1.1465.
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