The currency pair Euro Dollar EUR/USD continues to move within the framework of the formation of the «Triangle» model. At this point, we should expect a test of the support level near the area of 1.2300, where again we should expect a rebound and continue the growth of the Euro/Dollar with a target above 1.2400.
EUR/USD forecast & technical analysis April 24, 2018
In favor of EUR/USD quotes growth, the trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the variant of Euro/Dollar price growth will be a breakdown at the level of 1.2150, which will indicate the breakdown of the lower limit of the Triangle model and the continuation of the Euro/Dollar fall below the level of 1.2050. To expect confirmation of growth on the pair stands with the breakdown of the resistance area and the closing above the level of 1.2285.
EUR/USD forecast & technical analysis April 24, 2018 suggests an attempt to test the support area near the level of 1.2200, from which we expect a rebound and an attempt to continue the pair’s growth to the level above 1.2400, the cancellation of the EUR/USD growth option will be a breakdown at 1.2150, which will indicate on the continuation of the fall of the pair into the area below the level of 1.2150.
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