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 1.1617. At this point, we should expect an attempt to test the upper boundary of the bearish channel near the area of 1.1665, where we can expect a rebound and the start of the decline of the Euro/Dollar with a potential target below the level of 1.1360.
EUR/USD forecast & technical analysis August 28, 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 1.1695, which will indicate the breakdown of the upper border of the channel and the continuation of growth in the region at the level of 1.1850. 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 1.1505.
EUR/USD forecast & technical analysis August 28, 2018 suggests an attempt to test the resistance area near the level of 1.1665, from which one should expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1360, in favor of the drop will test the resistance area on the indicator of relative strength index (RSI), variant of EUR/USD decline will be a strong growth and breakdown at level 1.1695, which will indicate the breakdown of the resistance area and the continued growth of the pair in the area above the level of 1.1850.
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