Currency pair Euro Dollar EUR/USD continues to move within the limits of the decline. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1327. At the moment, we should expect an attempt to test the upper boundary of the bearish channel near the area of 1.1385, where we should expect a rebound and continue the decline of the Euro/Dollar with a target below the level of 1.1145.
EUR/USD forecast & technical analysis August 16, 2018
In favor of falling quotations EUR/USD will test the bearish trend line on the indicator of relative strength index (RSI). Canceling the option of lowering the quotes Euro/Dollar will be a strong growth and breakdown at the level of 1.1460, which will indicate the breakdown of the resistance area and continued growth in the area at the level of 1.1600. To expect confirmation of the development of the downward trend for the pair EUR/USD is with the breakdown of the support area and closing below the level of 1.1285.
EUR/USD forecast & technical analysis August 16, 2018 suggests an attempt to test the resistance area near the level of 1.1385, from which we expect a rebound and an attempt to continue falling of the pair into the area below the level of 1.1145, in favor of the decline will test the trend line on the indicator of relative strength index (RSI), variant of EUR/USD decline will be a strong growth and breakdown at level 1.1460, which will indicate the breakdown of the resistance area and the continued growth of the pair in the area above the level of 1.1600.
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