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 1.1683. At this point, we should expect a test of the support level near the area of 1.1605, from which we should expect a rebound and the continued growth of the Euro/ Dollar with a potential target above the level of 1.1850.
EUR/USD forecast Euro Dollar September 19, 2018
In favor of EUR/USD quotes growth, a support line test will be performed on the relative strength index (RSI), as well as a test of the lower border of the channel. The cancellation of the growth of the Euro Dollar quotes will result in a drop and breakdown at the level of 1.1535, which will indicate the breakdown of the lower limit of the «Triangle» model and the continuation of the decline to the level of 1.1440. To expect confirmation of the development of the bullish trend for the pair EUR/USD is with the breakdown of the resistance area and the closing above the level of 1.1725.
EUR/USD forecast Euro Dollar September 19, 2018 suggests an attempt to test the support area near the level of 1.1605, from which we should expect a rebound and an attempt to continue the pair’s growth to the level above 1.1850, in favor of growth will test the trend line on the indicator of relative strength index (RSI).
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