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, which is still quite strong, as you can see, the prices start from the area between the lines. At the time of the publication of the forecast, the Euro/Dollar rate is 1.1065. At the moment, we should expect an attempt to grow and test the resistance level near the area of 1.1085. 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 1.0835.
EUR/USD Forecast Euro Dollar September 17, 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 border of the bearish channel. Cancellation of the option to reduce the quotes of the Euro/Dollar currency pair will be a strong growth and the breakdown level of 1.1165. 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 1.0905.
Among the important news from Europe and America that may affect the EUR/USD pair rate, it is worth highlighting: ZEW Germany Economic Sentiment Indicator, the indicator of economic sentiment in Germany, the indicator has been decreasing recently, which negatively affects the Euro however, the indicator is expected to rise tomorrow from -44.1 to -34.7.
EUR/USD Forecast Euro Dollar September 17, 2019 suggests an attempt to correct and test the resistance area near the level of 1.1085. Where can we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.0835. 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 fall of the EUR/USD instrument will be a strong growth and the breakdown level of 1.1165. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1295.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
