Currency pair Euro Dollar EUR/USD continues to move within the framework of the correction and the formation of the bullish «Wolfe Wave» pattern. At the time of the publication of the forecast, the euro/dollar exchange rate is 1.1508. At the moment, we should expect an attempt to test the resistance level near the area of 1.1545, where we should expect a rebound and the continuation of the fall of the Euro/Dollar with a potential target below the level of 1.1365.
EUR/USD forecast Euro Dollar October 23, 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 of the level of 1.1625, which will indicate a breakdown of resistance and continued growth in the region at the level of 1.1725. Expect to accelerate the development of the decline in the pair EUR/USD stands with the breakdown of the support area and closure below 1.1465.
EUR/USD forecast Euro Dollar October 23, 2018 implies an attempt to test the resistance area near the 1.1545 level, from which we should expect a rebound and an attempt to continue reducing the pair to the area below 1.1365, the test of the trend line 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 1.1625, which will indicate a breakdown of resistance and the continued growth of the pair in the area above the level of 1.1725.