Currency pair Euro Dollar EUR/USD continues to move within the framework of the formation of the «Triangle» model. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1584. At the moment, we should expect an attempt to test the resistance level near the area of 1.1635, from which we should expect a rebound and the continued decline of the Euro/Dollar with a potential target below the level of 1.1415 as part of the start of the model’s development.
EUR/USD forecast Euro Dollar September 12, 2018
In favor of falling quotations EUR/USD will test the downward resistance line on the indicator of relative strength index (RSI). Abolishing the variant of the Euro/Dollar price decrease will be a strong growth and breakdown at the level of 1.1695, which will indicate the breakdown of the upper boundary of the model and the continuation of growth in the region at the level of 1.1785. To expect confirmation of the development of the bearish trend for the EUR/USD pair is with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 1.1515.
EUR/USD forecast Euro Dollar September 12, 2018 suggests an attempt to test the resistance area near the level of 1.1635, from which we expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1415, in favor of the decline will test the trend line on the indicator of relative strength index (RSI).
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