Currency pair Euro Dollar EUR/USD continues to move within the framework of a strong bullish correction. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1613, the pair was able to break through the resistance area. At the moment, we should expect an attempt to test the upper border of the channel near the area of 1.1665, where we can expect a rebound and the beginning of the decline of the Euro/Dollar with a potential target below the level of 1.1390.
EUR/USD forecast & technical analysis August 23, 2018
In favor of falling quotations EUR/USD will test the resistance area 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 1.1750, which will indicate the breakdown of the upper border of the channel and the continuation of growth in the region at the level of 1.1880. 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 1.1550.
EUR/USD forecast & technical analysis August 23, 2018 suggests a test of the resistance area near the level of 1.1665, from which we should expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1390, 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 the level of 1.1750, which will indicate the breakdown of the resistance area and the continued growth of the pair in the area above the level of 1.1880.
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