Currency pair Euro Dollar EUR/USD continues to move within the framework of a strong upward correction. At the time of publication of the forecast, the EUR/USD exchange rate is 1.1522, the pair is testing the lower limit of the «Triangle» model. At the moment, we should expect a test of the resistance level near the area of 1.1535, where we should expect a rebound and the continued decline of the Euro/Dollar with a potential target below the level of 1.1305.
EUR/USD forecast & technical analysis August 22, 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 1.1620, which will indicate the breakdown of the resistance area and the continued growth in the region at the level of 1.1720. 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 1.1470.
EUR/USD forecast & technical analysis August 22, 2018 suggests a test of the resistance area near the level of 1.1535, from which we expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1305, in favor of the decline will test the trend line on the indicator of relative strength index (RSI), variant of EUR/USD fall will be strong growth and breakdown at level 1.1620, which will indicate the breakdown of the resistance area and the continued growth of the pair in the area above the level of 1.1720.
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