Currency pair Euro/Dollar EUR/USD continues to move as part of the fall and the formation of the «Wedge» model. At the time of the publication of the forecast, the euro/dollar rate is 1.1302. At the moment, we should expect an attempt to fall and a test of the support level near the 1.1270 area. Further, the continuation of the growth of the currency pair Euro Dollar. A potential goal of such a movement is the area above the level 1.1475.
EUR/USD Forecast Euro Dollar March 7, 2019
In favor of the growth of the EUR/USD quotes, a test of the support area on the relative strength index (RSI) will be made. The second signal will be the formation of the bullish model «Wolfe Wave». Cancellation of the growth rate of the euro dollar quotes will fall and the breakdown level of 1.1185. This will indicate a breakdown of the support area and the continuation of falling into the area at the level of 1.1045. Expect confirmation of growth in the EUR/USD pair with the breakdown of the upper limit of the model and closure above 1.1395.
Among the important news from Europe and America that may affect the rate of the EUR/USD pair, it is worth highlighting: Publication of the European Central Bank decision on the basic interest rate, Press conference of the ECB.
EUR/USD Forecast Euro Dollar March 7, 2019 implies an attempt to test the support area near the level of 1.1270. Where should we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1475. A test of the support area on the relative strength index (RSI) will be in favor of the rise of the currency pair. Cancellation of the growth option EUR/USD will be a fall and a breakdown of the level of 1.1185. This will indicate a breakdown of the support area and the continuation of the pair’s decline to the area below the level of 1.1045.
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