Currency pair Euro/Dollar EUR/USD continues to move in the framework of the correction. Moving averages indicate the presence of a short-term upward trend for the pair. At the time of the publication of the forecast, the euro/dollar rate is 1.1204. At the moment, we should expect an attempt to grow and test the upper boundary of the bearish channel near the area of 1.1235. Further, the rebound and the continuation of the decline in the currency pair Euro Dollar. The potential target of such a movement is the area below the level of 1.1065.
EUR/USD Forecast Euro Dollar June 20, 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. Cancel the option of falling quotations of the currency pair Euro/Dollar will be a strong growth and the breakdown level of 1.1285. This will indicate breakdown of the channel boundary and continuation of the ascent to the region at the level of 1.1435. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the support area and closing below 1.1145.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: the European Union Leaders Summit.
EUR/USD Forecast Euro Dollar June 20, 2019 implies an attempt to test the resistance area near the level of 1.1235. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1065. 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 1.1285. This will indicate a breakdown of the resistance area and continued growth of the pair to the area above the level of 1.1435.
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