The currency pair Euro Dollar EUR/USD continues to move within the framework of the formation of the «Triangle» model. At the moment, we should expect a resistance level test near the area of 1.2390, where again we should expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.2240.
EUR/USD forecast & technical analysis April 12, 2018
In favor of falling quotations EUR/USD will test the resistance area on the indicator of relative strength index (RSI). The cancellation of the variant of the Euro/Dollar price decline will be a breakdown at the level of 1.2440, which will indicate the breakdown of the upper limit of the «Triangle» model and the continued growth of the Euro/Dollar above the level of 1.2550. To expect confirmation of the development of the fall on the pair is with the breakdown of the support area and the closing below the level of 1.2320.
EUR/USD forecast & technical analysis April 12, 2018 suggests an attempt to test the resistance area near the level of 1.2390, from which we expect a rebound and an attempt to continue the fall of the pair to below 1.2240, the cancellation of the EUR/USD fall will be a breakdown at 1.2440, continued growth of the pair in the area above the level of 1.2550.
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