EUR/USD Forecast Euro Dollar September 10, 2019

Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the bearish channel. Moving averages indicate the presence of a short-term bearish trend for the pair. At the time of the publication of the forecast, the Euro/Dollar rate is 1.1025. At the moment, we should expect an attempt to grow and test the resistance level near the area of ​​1.1095. Further, the rebound and continued fall of the Euro/Dollar currency pair. The potential target of this movement is the area below the level of 1.0840.

EUR/USD Forecast Euro Dollar September 10, 2019

An additional signal in favor of reducing the EUR/USD quotes will be a rebound from a downtrend on the relative strength index (RSI). The second signal will be a test of the upper boundary of the downward channel. Cancellation of the option to reduce the quotes of the Euro/Dollar currency pair will be a strong growth and a breakdown of the level of 1.1170. This will indicate a breakdown of the resistance area and continued growth in the area at the level of 1.1295. Expect confirmation of a fall in the EUR/USD pair with a breakdown of the support area and closing below 1.0965.

Among the important news from Europe and America that may affect the EUR/USD pair, it is worth highlighting: The number of open jobs in the US labor market (United States JOLTS Job Openings).

EUR/USD Forecast Euro Dollar September 10, 2019 implies an attempt to correct and test the resistance area near the level of 1.1095. Where can we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.0840. In favor of reducing the currency pair, a test of a downward trend line on the relative strength index (RSI) will come out. Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1170. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1295.

Join our Telegram Channel