Currency pair Euro Dollar EUR/USD continues to move as part of the decline and the formation of an inverted “Head and Shoulders» model. At the time of the publication of the forecast, the euro rate to the US Dollar is 1.1282. At the moment, we should expect an attempt to continue the decline and test the support level near the area of 1.1265. Where can we expect a rebound and the continued growth of the euro/dollar currency pair. A potential goal of such a movement is the area above the level of 1.1760.
EUR/USD forecast Euro Dollar November 29, 2018
In favor of the growth of the EUR/USD quotes, a test of the rising trendline on the relative strength index (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 level and a continued decline to the area at the level of 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 1.1500. This will indicate the completion of the formation of the reversal pattern and the acceleration of the growth of the pair.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: Publication of the minutes of the Fed meeting, Speech by the ECB President Mario Draghi.
EUR/USD forecast Euro Dollar November 29, 2018 implies an attempt to test the support area near the level of 1.1265. Where can we expect a rebound and an attempt to continue the growth of the pair in the area above the level of 1.1760. In favor of growth will make a test trend line on the indicator of relative strength index (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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
