Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the formation of the ”Triangle” model. Moving averages indicate a short-term bearish trend for the pair. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the European currency and a potential continuation of the fall in the asset quotes from the current levels. At the time of the publication of the forecast, the Euro/US dollar rate is 1.1730. As part of the Forex forecast for September 22, 2021, we should expect an attempt to develop a slight fall in prices and a test of the support level, which is located on the pair near the 1.1695 area. Further, a rebound upward and the beginning of the rise of the Euro/Dollar currency pair. The potential target of such a movement on FOREX is the area above the level of 1.1835.
EUR/USD Forecast Euro Dollar September 22, 2021
An additional signal in favor of the growth of the EUR/USD quotes will be a rebound from the lower border of the ”Triangle” model. The second signal will be a rebound from the bullish trend line on the relative strength index (RSI). Cancellation of the growth option for the quotes of the Euro/Dollar currency pair will be a fall and a breakdown of the level of 1.1625. This will indicate a breakdown of the lower border of the ”Triangle” model and a continuation of the fall into the area at the level of 1.1455. It is worth waiting for confirmation of a rise in the EUR/USD currency pair with the breakdown of the resistance level and closing the price above the level of 1.1895, which will indicate a breakdown of the upper border of the descending channel.
Among the important news from Europe and the United States that may have an impact on the EUR/USD pair, it is worth highlighting: United States Existing Home Sales, EIA United States Crude Oil Stocks Change, Federal Reserve System (Fed) Interest Rate Decision, Federal Open Market Committee (FOMC) Press Conference.
EUR/USD Forecast Euro Dollar September 22, 2021 assumes the development of a correction and a test of the support area near the level of 1.1695. Where can we expect a rebound and an attempt to increase the fall of the pair to an area above the level of 1.1835. A test of the trend line on the relative strength index (RSI) will be in favor of raising the currency pair. Cancellation of the growth option for the EUR/USD pair will be a fall in quotations and a breakdown of the level of 1.1625. This will indicate a breakdown of the support area and the continuation of the fall of the currency pair on Forex to the area below the level of 1.1455.
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