Currency pair Euro Dollar EUR/USD continues to move within the framework of the bullish correction. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1372. At the moment, we should expect an attempt to test the upper boundary of the downward channel near the area of 1.1390, from which we should expect a rebound and the continued decline of the Euro/Dollar with a target below the level of 1.1215.
EUR/USD forecast & technical analysis August 17, 2018
In favor of falling quotations EUR/USD will test the downward trend line on the indicator of relative strength index (RSI). Abolishing the variant of the Euro/Dollar price decrease will be a strong growth and breakdown at the level of 1.1460, which will indicate the breakdown of the resistance area and the continued growth in the region at the level of 1.1580. To expect confirmation of the development of the downward trend for the pair EUR/USD is with the breakdown of the support area and the closing below the level of 1.1300.
EUR/USD forecast & technical analysis August 17, 2018 suggests a test of the resistance area near the level of 1.1390, from which one should expect a rebound and an attempt to continue falling of the pair into the area below the level of 1.1215, in favor of the drop, the trend line test will be performed on the indicator of relative strength index (RSI), EUR/USD decline will be a strong growth and breakdown at 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 1.1580.
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