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 1.1242. At the moment, we should expect an attempt to fall and a test of the support level near the area of 1.1190. 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 of 1.1345.
EUR/USD Forecast Euro Dollar March 8, 2019
A test of the support line on the relative strength index (RSI) will be in favor of the EUR/USD quotes growth. The second signal will be the formation of the ascending model «Wolfe Wave». Cancellation of the growth rate of the euro/dollar quotes will fall and the breakdown of the level of 1.1145. This will indicate a breakdown of the support area and the continuation of falling into the area at the level of 1.1025. Expect confirmation of growth for the pair EUR/USD stands with the breakdown of the upper boundary of the model and closing above 1.1365.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: The unemployment rate, the change in the number of people employed in the non-agricultural sector.
EUR/USD Forecast Euro Dollar March 8, 2019 implies an attempt to test the support area near the level of 1.1190. Where should we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1345. 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 the fall and the breakdown level of 1.1145. This will indicate a breakdown of the support area and a continued decline in the pair to an area below the 1.1025 level.
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