The currency pair Euro Dollar EUR/USD continues to move within the framework of a bearish correction. At this point, we should expect a test of the support level near the area of 1.2280, where again we should expect a rebound and continue the growth of the euro/dollar with a target above 1.2530. In favor of the EUR/USD quotes growth, the trend line test will be performed on the indicator of relative strength index (RSI).
EUR/USD forecast & technical analysis February 27, 2018
Cancellation of the variant of Euro/Dollar price growth will be a breakdown at the level of 1.2220, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of the Euro/Dollar below the level of 1.2050. To expect confirmation of the development of the bullish trend for the pair is with the breakdown of the resistance level and the closing of quotations above 1.2400.
EUR/USD forecast & technical analysis February 27, 2018 suggests an attempt to test the lower border of the channel near the area of 1.2305, from which one should expect a rebound and an attempt to continue the pair’s growth to the area above 1.2530, the cancellation of the EUR/USD growth option will be a 1.2220 breakdown, which will indicate on the continuation of the fall of the pair into the area below the level of 1.2050.
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