Currency pair Euro/Dollar EUR/USD continues to move as part of growth. At the time of the publication of the forecast, the euro/dollar rate is 1.1391. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1420 area. Further, the continuation of the fall of the currency pair Euro/Dollar. A potential target of such a movement is the area below the level 1.1205.
EUR/USD Forecast Euro Dollar March 1, 2019
In favor of reducing the EUR/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal will be the formation of the descending model «Wolfe Wave». Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1455. This will indicate a breakdown of the resistance area and continued growth in the area at the level of 1.1565. Expect confirmation of a fall in the EUR/USD pair with the breakdown of the lower border of the bullish channel and closing below 1.1335.
Among the important news from Europe and America that could affect the EUR/USD pair is: The ISM manufacturing index, a decline of 0.6 is expected, which may put pressure on the US Dollar rate in the short term.
EUR/USD Forecast Euro Dollar March 1, 2019 involves an attempt to test the resistance area near the level of 1.1420. Where should we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.1205. In favor of reducing the currency pair will test the trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1455. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1565.
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