The currency pair Euro Dollar EUR/USD continues to move within the growth and bearish channel. At the time of publication of the forecast, the euro exchange rate is 1.1702. At this point, we should expect an attempt to test the lower border of the channel near the area of 1.1700, where we can expect an attempt to rebound and continue the growth of the Euro/Dollar with a target above the level of 1.1870.
EUR/USD forecast & technical analysis July 11, 2018
In favor of the EUR/USD quotes growth, the support area test will be performed on the 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 1.1670, which will indicate the breakdown of the lower border of the channel and the continuation of the decline in the region. To expect confirmation of the development of growth for the pair EUR/USD stands with the breakdown of the resistance area and the closing above the level of 1.1875, in this case it is expected to accelerate the growth of the EUR/USD pair on Forex.
EUR/USD forecast & technical analysis July 11, 2018 suggests an attempt to test the support area near the level of 1.1700, from which we expect a rebound and an attempt to continue the pair’s growth to the level above 1.1870, a test of the support area on the relative strength index (RSI) will make a strong signal in favor of growth , the cancellation of the EUR/USD growth option will be a breakdown at the level of 1.1670, which indicates that the pair will continue to fall below 1.1540.
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