Currency pair Euro Dollar EUR/USD continues to move within the framework of the upward correction. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1408. At the moment, we should expect an attempt to test the upper limit of the descending channel near the area of 1.1415, from which we should expect a rebound and the continued decline of the Euro/Dollar with a potential target below the level of 1.1225.
EUR/USD forecast & technical analysis August 21, 2018
In favor of falling quotations EUR/USD will test the bearish 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 bearish 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 21, 2018 suggests an attempt to test the resistance area near the level of 1.1415, from which we should expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1225, in favor of the decline will test the trend line 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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