Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the downward channel. At the time of the publication of the forecast, the euro/dollar rate is 1.1247. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1315 area. Further, the continuation of the fall of the currency pair Euro/Dollar. The potential target of such a movement is the area below the level of 1.1085.
EUR/USD Forecast Euro Dollar March 12, 2019
A 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 upper boundary of the descending channel. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1385. This will indicate a breakdown of the upper boundary of the downward channel and continued growth in the region at the level of 1.1465. 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, which may have an impact on the course of the EUR/USD pair, it is worth highlighting: Consumer price index, Consumer price index excluding prices for food and energy.
EUR/USD Forecast Euro Dollar March 12, 2019 suggests an attempt to test the resistance area near the 1.1315 level. Where can we expect a rebound and an attempt to continue the growth of the pair in the area below the level of 1.1085. In favor of the fall of the currency pair will test the area of resistance 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 1.1385. 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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