EUR/USD Forecast Euro Dollar September 20, 2019


Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the formation of the «Triangle» model. Moving averages indicate the presence of a short-term bearish trend for the pair, which has been going on for quite some time. At the time of the publication of the forecast, the Euro/Dollar rate is 1.1066. At the moment, we should expect an attempt to grow and test the resistance level near the area of ​​1.1075. 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 1.0820.

EUR/USD Forecast Euro Dollar September 20, 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 boundary of the «Triangle» model. Cancellation of the option to reduce the quotes of the Euro / Dollar currency pair will be a strong growth and the breakdown level of 1.1155. This will indicate a breakdown of the resistance area and continued growth in the area at the level of 1.1265. Expect confirmation of a fall in the EUR/USD pair with a breakdown of the lower boundary of the Triangle model and closing below 1.0955.

EUR/USD Forecast Euro Dollar September 20, 2019

EUR/USD Forecast Euro Dollar September 20, 2019 implies an attempt to correct and test the resistance area near the level of 1.1075. Where can we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.0820. 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 1.1155. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1265.


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