Currency pair Euro Dollar EUR/USD continues to move within the framework of the rising channel. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1662. At this point, we should expect an attempt to test the lower border of the uplink near the area of 1.1625, where we can expect a rebound and the continued growth of the Euro/Dollar with a potential target above the level of 1.1820.
EUR/USD forecast & technical analysis August 31, 2018
In favor of the growth of EUR/USD quotations, a test of the support line will be made on the indicator of relative strength index (RSI). The cancellation of the growth of the Euro/Dollar quotations will result in a drop and breakdown at the level of 1.1600, which will indicate the breakdown of the lower boundary of the channel and the continuation of the fall into the region at the level of 1.1500. To expect confirmation of the development of the upward trend for the pair EUR/USD stands with the breakdown of the resistance area and the closing above the level of 1.1765.
EUR/USD forecast & technical analysis August 31, 2018 assumes an attempt to test the support area near the level of 1.1625, from which one should expect a rebound and an attempt to continue the pair’s growth into the area above the level of 1.1820, in favor of growth, a test of the support line on the indicator of relative strength index (RSI).
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