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 1.1577. At the moment, we should expect an attempt to test the resistance level near the area of 1.1635, from which we should expect a rebound and the start of the decline of the Euro/Dollar with a potential target below the level of 1.1405.
EUR/USD forecast & technical analysis August 24, 2018
In favor of falling quotations EUR/USD will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the variant of the Euro/Dollar price reduction will result in a strong growth and breakdown at the level of 1.1685, which will indicate the breakdown of the resistance level and the continued growth in the region at the level of 1.1780. To expect confirmation of the development of the bearish trend for the pair EUR/USD stands with the breakdown of the lower boundary of the bullish channel and the closing below the level of 1.1465.
EUR/USD forecast & technical analysis August 24, 2018 suggests an attempt to test the resistance area near the level of 1.1635, from which we expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1405, 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 1.1685, which will indicate the breakdown of the resistance area and the continued growth of the pair in the area above the level of 1.1780.
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