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 1.1652. At the moment, we should expect an attempt to test the support level near the area of 1.1590, where we should expect the rebound and the continued growth of the Euro/Dollar with the potential target above the level of 1.1780.
EUR/USD forecast Euro Dollar September 18, 2018
In favor of EUR/USD quotes growth, the support line test on the relative strength index (RSI) will perform, as well as the lower bound of the «Triangle» model. The cancellation of the growth of the Euro/Dollar quotes will result in a drop and breakdown at the level of 1.1530, which will indicate the breakdown of the lower limit of the «Triangle» model and the continuation of the decline to the area at 1.1440. To expect confirmation of the development of the upward trend for the pair EUR/USD stands with the breakdown of the resistance area and the closing above the level of 1.1720.
Among the important news from Europe and America that can influence the rate of the EUR/USD pair, it is worth highlighting: The ECB President’s speech.
EUR/USD forecast Euro Dollar September 18, 2018 suggests an attempt to test the support area near the level of 1.1590, from which we should expect a rebound and an attempt to continue the pair’s growth into the area above the level of 1.1780, in favor of growth will test the trend line on the indicator of relative strength index (RSI), variant of EUR/USD growth will be a drop and breakdown at level 1.1530, which will indicate a breakdown of support and continuation of the fall of the pair into the area below the level of 1.1440.
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