Currency pair Euro/Dollar EUR/USD continues to move as part of a strong upward correction. Moving averages indicate a short-term bullish trend for the pair. At the time of the publication of the forecast, the euro/dollar rate is 1.1393. At the moment, we should expect an attempt to continue growth and test the upper boundary of the «Wolfe Wave» model near the 1.1405 area. Further, the rebound and the beginning of the decline in the currency pair Euro/Dollar. The potential goal of such a movement and model development is the area below the level of 1.1085.
EUR/USD Forecast Euro Dollar June 25, 2019
In favor of reducing the EURUSD 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 border of the «Wolfe Wave» model. Cancellation of the option of falling quotations of the currency pair Euro/Dollar will be a strong rise and a breakdown level 1.1485. This will indicate breakdown of the channel boundary and continuation of the ascent to the region at the level of 1.1615. Expect confirmation of a fall on the EURUSD pair with the breakdown of the support area and closing below 1.1345.
Among the important news from Europe and America, which may have an impact on the EUR/USD pair, it is worth highlighting: United States New Home Sales, The Conference Board United States Consumer Confidence Index, Federal Reserve System (Fed) Chair Powell Speech.
EUR/USD Forecast Euro Dollar June 25, 2019 implies an attempt to test the resistance area near the level of 1.1405. Where can we expect a rebound and an attempt to continue to reduce the pair to an area below the level of 1.1085. 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 1.1485. This will indicate a breakdown of the resistance area and continued growth of the pair to the area above the level of 1.1615.