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 rate is 1.1388. At the moment, we should expect an attempt to test the support level near the 1.1365 area, from where we should expect a rebound and the continued growth of the Euro/Dollar with a potential target above 1.1665.
EUR/USD forecast Euro Dollar October 25, 2018
In favor of the growth of the EUR/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the growth rate of the Euro/Dollar quotations will be the fall and the breakdown of the level of 1.1300, which will indicate the breakdown of the lower boundary of the «Wolfe Wave» model and the continuation of the fall to the area at the level of 1.1210. Expect acceleration of confirmation of growth for the pair EUR/USD stands with the breakdown of the trend line and closing above the level of 1.1485.
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 ECB’s decision on the basic interest rate, Press Conference of the ECB, Changes in the volume of orders for durable goods.
EUR/USD forecast Euro Dollar October 25, 2018 suggests an attempt to test the support area near the level of 1.1365, where you can expect a rebound and an attempt to continue the growth of the pair to the area above the level of 1.1665, in favor of growth will be a test of the trend line on the relative strength index (RSI), canceling growth options EUR/USD will fall and the breakdown level of 1.1300, indicating that the breakdown of support and the continuation of the fall of the pair in the area below the level of 1.1210.