Currency pair Euro/Dollar EUR/USD continues to move in the framework of the correction. Moving averages indicate a short-term bearish trend in the pair. At the time of the publication of the forecast, the euro/dollar rate is 1.1165. At the moment, we should expect an attempt to continue growth and test the resistance level near the 1.1185 area. Further, the rebound and the continuation of the decline in the currency pair Euro/Dollar. The potential target of such a movement is the area below the level of 1.1045.
EUR/USD Forecast Euro Dollar May 23, 2019
A test of the resistance line on the relative strength index (RSI) will be in favor of the fall in EUR/USD quotes. The second signal will be a rebound from the lower boundary of the rising channel. Cancel the option of falling quotations of the currency pair Euro/Dollar will be a strong growth and the breakdown level of 1.1245. This will indicate a breakdown of the resistance area and continued growth in the area at the level of 1.1365. Expect confirmation of a fall on the EUR/USD pair with the breakdown of the support area and closing below 1.1115.
Among the important news from Europe and America that may affect the rate of the EUR/USD pair, it is worth highlighting: Germany Gross Domestic Product (GDP) q/q, Ifo Germany Business Climate, United States New Home Sales.
EUR/USD Forecast Euro Dollar May 23, 2019 implies an attempt to test the lower limit of the ascending channel near the level of 1.1165. Where should we expect a rebound and an attempt to continue to reduce the pair to the area below the level of 1.1185. 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 1.1245. This will indicate a breakdown of the resistance area and continued growth of the pair to the area above the level of 1.1365.
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