Currency pair Euro Dollar EUR/USD continues to move as part of the growth and formation of the head and shoulders reversal pattern. At the time of the publication of the forecast, the euro/dollar rate is 1.1426. At the moment, we should expect an attempt to decrease and test the support level near the area of 1.1295. Where can we expect a rebound and the continued growth of the euro dollar currency pair. The target of this movement is the area above the level of 1.1700.
EUR/USD forecast Euro Dollar November 21, 2018
In favor of the growth of the EUR/USD quotes, a test of the rising trendline on the relative strength (RSI) will be made. Cancellation of the growth rate of the euro dollar quotes will fall and the breakdown level of 1.1225. This will indicate a breakdown of the support area and a continued decline to the area at 1.1120. Expect confirmation of the development of growth for the pair EUR/USD stands with the breakdown of the resistance area and closing above the level of 1.1510.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: Changes in the volume of orders for durable goods.
EUR/USD forecast Euro Dollar November 21, 2018 implies an attempt to test the support area near the level of 1.1295. Where should we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1700. In favor of growth will make a test trend line on the indicator of relative strength (RSI). Cancellation of the growth option EUR/USD will be the fall and the breakdown level of 1.1225. This will indicate a breakdown of support and the continuation of the fall of the pair in the area above the level of 1.1120.
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