Currency pair Euro Dollar EUR/USD continues to move within the framework of the formation of the «Triangle» model. Tomorrow, the ECB’s decision on the main rate is expected, which could trigger volatility and the pair’s quotes out of the «Triangle». At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1596. At this point, we should expect an attempt to test the resistance level near the area of 1.1625, where we can expect a rebound and the continued decline of the Euro/Dollar with a potential target below the level of 1.1405 as part of the start of the model’s development.
EUR/USD forecast Euro Dollar September 13, 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 1.1520.
Among the important news from Europe and America that can influence the EUR/USD rate, it is worth highlighting: Publication of the ECB’s decision on the basic interest rate, the Consumer Price Index, the Consumer Price Index without taking into account the prices for food and energy.
EUR/USD forecast Euro Dollar September 13, 2018 suggests a test of the resistance area near the level of 1.1625, from which we should expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1405, in favor of the decline will test the trend line on the indicator of relative strength index (RSI).
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