The currency pair Euro Dollar EUR/USD continues to move within the limits of the decline. At the moment, we should expect a test of the lower limit of the bullish model «Wolfe Wave» near the area of 1.2160, where again we should expect an attempt to rebound and continue the growth of the Euro Dollar with a target above 1.2310.
EUR/USD forecast & technical analysis April 26, 2018
In favor of the EUR/USD quotes growth, the support area test will be performed on the relative strength index (RSI). The cancellation of the growth of the Euro/Dollar quotations will mark the breakdown at the level of 1.2100, which will indicate the breakdown of the lower boundary of the bullish pattern «Wolfe Wave» and the continuation of the Euro/Dollar fall below 1.2000. The pair’s resistance is expected to be confirmed by the breakdown of resistance and closing above 1.2250.
EUR/USD forecast & technical analysis April 26, 2018 suggests a test of the support area near 1.2160, where we expect a rebound and an attempt to continue the pair’s growth to the level above 1.2310, the cancellation of the EUR/USD fall will be a breakdown at the level of 1.2100, which will indicate on the continuation of the fall of the pair into the area below the level of 1.2000.
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