Currency pair Euro Dollar EUR/USD continues to move within the limits of the decline. At the time of publication of the forecast, the Euro to the US Dollar exchange rate is 1.1595. At this point, we should expect an attempt to test the level of support near the area of 1.1555, where we can expect the rebound and the continued growth of the Euro/Dollar with a potential target above the level of 1.1740.
EUR/USD forecast Euro Dollar October 2, 2018
In favor of EUR/USD quotes growth, the support area test will be performed on the relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The cancellation of the growth of the Euro Dollar quotes will result in a drop and breakdown at the level of 1.1490, which will indicate the breakdown of the support area and the continuation of the decline in the region at the level of 1.1310. To expect confirmation of the growth development for the pair EUR/USD is with the breakdown of the resistance area and the closing above the level of 1.1650.
Important news from Europe and America, which can influence the rate of the EUR/USD pair, is not expected, so the pair will continue to move in the technical analysis.
EUR/USD forecast Euro Dollar October 2, 2018 suggests an attempt to test the support area near the level of 1.1555, from which we should expect a rebound and an attempt to continue the pair’s growth into the area above the level of 1.1740, in favor of growth, a support test on the relative strength index (RSI), growth of EUR/USD will fall and breakdown at level 1.1490, indicating a breakdown of support and continuation of the fall of the pair in the area below the level of 1.1310.
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