Currency pair Euro Dollar EUR/USD continues to move within the framework of growth. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1703. At the moment, we should expect an attempt to test the support level near the area of 1.1655, where we can expect the rebound and the continued growth of the Euro/Dollar with a potential target above the level of 1.1860.
EUR/USD forecast Euro Dollar September 20, 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 quotations will result in a drop and breakdown at the level of 1.1585, which will indicate the breakdown of the lower border of the channel and the continuation of the decline to the area at the level of 1.1440. To expect confirmation of the development of the upward trend for the pair EUR/USD is with the breakdown of the resistance area and the closing above the level of 1.1735, which will indicate the completion of the formation of the reversal model «Head and shoulders».
Important news from Europe and America, which can influence the rate of the EUR/USD pair, is not expected, so the pair will continue to move in the technical analysis.
EUR/USD forecast Euro Dollar September 20, 2018 suggests an attempt to test the support area near the level of 1.1655, from which we should expect a rebound and an attempt to continue the pair’s growth to the level above 1.1860, in favor of growth, a trend line test on the indicator of relative strength index (RSI), variant of EUR/USD growth will fall and breakdown at level 1.1585, which will indicate the breakdown of support and the continuation of the fall of the pair in the area below the level of 1.1440.
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