Currency pair Euro Dollar EUR/USD continues its movement within the framework of correction and start of the «Triangle» model development. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1737. At this point, we should expect an attempt to test the support level near the area of 1.1705, where we can expect the rebound and the continued growth of the Euro/Dollar with a potential target above the level of 1.1820.
EUR/USD forecast Euro Dollar September 21, 2018
In favor of the growth of EUR/USD quotations, a test of the support line will be made on the indicator of relative strength index (RSI). The cancellation of the growth of the Euro/Dollar quotations will result in a drop and breakdown at the level of 1.1625, 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 1.1480. 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 1.1780.
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 21, 2018 suggests an attempt to test the support area near the level of 1.1705, from which we expect a rebound and an attempt to continue the pair’s growth to the level above the level of 1.1820, in favor of growth will test the trend line on the indicator of relative strength index (RSI).
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