Currency pair Euro Dollar EUR/USD continues its movement within the framework of correction and formation of the «Triangle» model. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1760. At the moment, we should expect an attempt to test the support level near the area of 1.1710, where we can expect a rebound and the continued growth of the Euro/Dollar with a potential target above the level of 1.1865.
EUR/USD forecast Euro Dollar September 26, 2018
In favor of EUR/USD quotes growth, a support line test will be performed on the relative strength index (RSI), as well as rebound from the lower border of the bullish channel. Cancellation of the growth scenario of the Euro/Dollar quotations will be a drop and a breakdown at the level of 1.1675, which will indicate the breakdown of the lower boundary of the channel and the continuation of the decline in the region at the level of 1.1550. To expect confirmation of the development of the upward trend for the EUR/USD pair is with the breakdown of the resistance area and the closing above the level of 1.1795.
Among the important news from Europe and America, which can influence the rate of the EUR / USD pair, it is worth highlighting: FOMC decision on the basic interest rate, FOMC Accompanying Statement, Economic forecast from the FOMC.
EUR/USD forecast Euro Dollar September 26, 2018 suggests an attempt of testing the support area near the level of 1.1710, from which we should expect a rebound and an attempt to continue the pair’s growth to the level above 1.1865, in favor of growth will test the trend line on the indicator of relative strength index (RSI), variant of EUR/USD growth will be a drop and breakdown at level 1.1675, which will indicate the breakdown of support and continuation of the fall of the pair in the area below the level of 1.1550.
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