Currency pair Euro/Dollar EUR/USD continues to move in the context of an upward correction and the formation of the «Wolfe Wave» model. 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 ascending channel near the 1.1405 area. Further, the rebound and the beginning of the decline in the currency pair Euro/Dollar. The potential target of such a movement and model development is the area below the level of 1.1215.
EUR/USD Forecast Euro Dollar June 26, 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 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 continued growth in the region at the level of 1.1615. 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 course of the EUR/USD pair, it is worth highlighting: United States Core Durable Goods Orders m/m.
EUR/USD Forecast Euro Dollar June 26, 2019 implies an attempt to test the resistance area near the 1.1405 level. Where can we expect a rebound and an attempt to continue to reduce the pair to an area below 1.1215. 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.