The currency pair Euro Dollar EUR/USD continues to move within the framework of strong growth. At the moment, we expect the pair to fall to the lower border of the channel near the area of 1.2175 and the continued growth of the euro dollar with a target above 1.2410. In favor of the EUR/USD quotes growth, a support line test will be performed on the relative strength index (RSI).
EUR/USD forecast & technical analysis January 16, 2018
Cancellation of the variant of the Euro/Dollar price decline will be a breakdown at the level of 1.2130, which will indicate the breakdown of the lower border of the channel and the continued growth of the Euro/Dollar decline below the level of 1.2050.
EUR/USD forecast & technical analysis January 16, 2018 suggests an attempt to test the lower border of the channel near the area of 1.2175, from which one should expect a rebound and an attempt to continue the pair’s growth to an area above 1.2410, the cancellation of the EUR/USD growth option will be a breakthrough at 1.2130, which will indicate to continue the fall of the pair.
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