The currency pair Euro Dollar EUR/USD continues its movement within the framework of correction and formation of the «Triangle» model. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1675. At the moment, we should expect a test of the support level near the area of 1.1650, where we can expect an attempt to rebound and continue the growth of the Euro/Dollar with a target above 1.1760.
EUR/USD forecast & technical analysis July 13, 2018
In favor of the growth of EUR/USD quotations, a test of the support line will be made on the indicator of relative strength index (RSI). The cancellation of the growth of the Euro/Dollar quotes will result in a drop and breakdown at the level of 1.1610, which will indicate the breakdown of the support area and the continuation of the decline in the area at the level of 1.1510. To expect confirmation of growth on the EUR/USD pair stands with the breakdown of the upper bound of the «Triangle» model and the closing above the level of 1.1775, in this case it is expected to accelerate the growth of the EUR/USD pair on FOREX as part of the start of the model’s development.
EUR/USD forecast & technical analysis July 13, 2018 assumes an attempt to test the support area near the level of 1.1650, where we expect a rebound and an attempt to continue the pair’s growth to the level above 1.1760, a strong support signal test on the relative strength index (RSI), the cancellation of the EUR/USD growth option will be a breakthrough at level 1.1610, indicating that the pair will continue to fall below 1.1510.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
