Currency pair Euro Dollar EUR/USD continues to move within the limits of the decline. At the time of the publication of the forecast, the euro/dollar rate is 1.1516. At the moment, we should expect an attempt to test the broken border of the ascending channel 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 1.1320.
EUR/USD forecast Euro Dollar October 3, 2018
In favor of reducing the EUR/USD quotes, a test of the trend line on the relative strength index (RSI) will be made. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown of the level of 1.1630, which will indicate the breakdown of the resistance area and continued growth in the area at the level of 1.1740. Expect confirmation of the development of the decline in the EUR/USD pair with the breakdown of the support area and closing below 1.1475.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: Change in the number of people employed from ADP, Composite ISM index for the non-production sphere.
EUR/USD forecast Euro Dollar October 3, 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 1.1320, the test of the trend line on the relative strength index (RSI) will act in favor of the fall, canceling the option of falling EUR/USD will become a strong growth and a breakdown of the level of 1.1630, which will indicate a breakdown of resistance and the continued growth of the pair in the area above the level of 1.1740.
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