Currency pair Euro Dollar EUR/USD continues to move in the framework of the correction. At the time of the publication of the forecast, the euro/dollar rate is 1.1499. At the moment, we should expect an attempt to test the resistance level near the area of 1.1605, where we should expect a rebound and the continuation of the fall of the Euro/Dollar with a potential target below 1.1425.
EUR/USD forecast Euro Dollar October 12, 2018
In favor of reducing the EUR/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1635, which will indicate a breakdown of the upper boundary of the bearish channel and continued growth in the region at the level of 1.1745. Expect to accelerate the development of the decline in the pair EUR/USD stands with the breakdown of the support area and closure below 1.1495.
EUR/USD forecast Euro Dollar October 12, 2018 implies an attempt to test the resistance area near the level of 1.1605, from which one should expect a rebound and an attempt to continue reducing the pair to the area below the level of 1.1425, the trend line test on the relative strength index (RSI) will cancel the option of falling EUR/USD will become a strong growth and a breakdown of the level of 1.1635, which will indicate a breakdown of resistance and the continued growth of the pair in the area above the level of 1.1745.