Currency pair Euro/Dollar EUR/USD continues to move in the framework of the correction and the downward channel. At the time of the publication of the forecast, the euro/dollar rate is 1.1281. At the moment, we should expect an attempt to grow and test the resistance level near the 1.1320 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 1.1135.
EUR/USD Forecast Euro Dollar March 13, 2019
A test of the resistance line on the relative strength index (RSI) will be in favor of the EUR/USD quotes drop. 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 1.1485. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the support area and closing below 1.1195.
Among the important news from Europe and America that may affect the course of the EUR/ USD pair, it is worth mentioning: Producer price index, Change in the volume of orders for durable goods.
EUR/USD Forecast Euro Dollar March 13, 2019 implies an attempt to test the resistance area near the 1.1320 level. Where should we expect a rebound and an attempt to continue the growth of the pair in the area below the level of 1.1135. 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 1.1485 level.
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