Currency pair Euro Dollar EUR/USD continues to move as part of the decline. At the time of the publication of the forecast, the euro/dollar rate is 1.1492. At the moment, we should expect an attempt to test the upper limit of the bearish channel near the area of 1.1565, where we should expect a rebound and the continuation of the fall of the Euro/Dollar with a potential target below 1.1315.
EUR/USD forecast Euro Dollar October 5, 2018
In favor of reducing the EUR/USD quotes, a test of the trend line on the relative strength index (RSI), as well as a test of the resistance level, will come out. Cancellation of the option of falling quotes Euro/Dollar will be a strong growth and the breakdown level of 1.1630, which will indicate a breakdown of the upper boundary of the 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 1.1435.
Among the important news from Europe and America that may affect the course of the EUR/USD pair, it is worth highlighting: Non-Farm Payrolls.
EUR/USD forecast Euro Dollar October 5, 2018 implies an attempt to test the resistance area near the level of 1.1565, where a rebound is expected and an attempt to continue to lower the pair to the area below 1.1315, 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 1.1630, which will indicate a breakdown of resistance and the continued growth of the pair in the area above the level of 1.1745.
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