The currency pair Euro Dollar EUR/USD continues to move within the framework of the formation of the bearish model «Wolfe Wave». At this point, we should expect an attempt to test the level of 1.2065 and the beginning of the fall of the euro/dollar with a target below 1.1880.
EUR/USD forecast & technical analysis January 3, 2018
In favor of falling quotations EUR/USD will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the variant of the Euro/Dollar price drop will be a breakdown at the level of 1.2160, which will indicate the cancellation of the bearish model of the «Wolfe Wave» and the continued growth of the Euro/Dollar pair above 1.2250. Expect to accelerate the fall of the pair is with the breakdown of the level of 1.1980.
EUR/USD forecast & technical analysis January 3, 2018 suggests a test of the level of 1.2065, from where it is expected to start the fall of the pair in the area below 1.1880, as part of the development of the bearish model «Wolfe Wave», the cancellation of the EUR/USD fall will be a breakdown at the level of 1.2160, which indicates the continued growth.