The currency pair Euro Dollar EUR/USD continues to move within the fall. At this point, we should expect an attempt to test the resistance level near 1.1870 and continue the fall of the euro/dollar with a target below 1.1520. In favor of falling quotations EUR/USD will test the upper limit of the descending channel on the indicator of relative strength index (RSI).
EUR/USD forecast & technical analysis on December 12, 2017
Cancellation of the variant of the Euro/Dollar price decline will be a breakdown at the level of 1.1970, which will indicate the continued growth of the Euro/Dollar pair above the level of 1.2100. Expect to accelerate the fall of the pair is with the breakdown of the support level and closing below 1.1705.
EUR/USD forecast & technical analysis on December 12, 2017 suggests a test of the resistance level near 1.1870, from where it is expected to continue falling to the area below 1.1530, within the start of the development of the «Head and Shoulders» reversal model, in favor of the fall, channel on the indicator of relative strength index (RSI), the abolition of the EUR/USD decline option will be a breakdown at the level of 1.1970, which will indicate the continued growth.
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