The currency pair Euro Dollar EUR/USD continues to move within the correction. At the time of publication of the forecast, the Euro to the US Dollar rate is 1.1689. At this point, we should expect an attempt to test the resistance level near the area of 1.1710, where we can expect an attempt to rebound and continue the decline of the Euro/Dollar with a target below 1.1500 level.
EUR/USD forecast & technical analysis July 17, 2018
In favor of falling quotations EUR/USD will test the resistance line on the indicator of relative strength index (RSI). Canceling the option of lowering the quotes Euro/Dollar will be strong growth and breakdown at the level of 1.1750, which will indicate the breakdown of the resistance area and the continued growth in the area at the level of 1.1820. To expect confirmation of the development of the fall on the EUR/USD pair is with the breakdown of the lower border of the bullish channel and the closing below the level of 1.1590, in this case it is expected to accelerate the fall of the EUR/USD pair on Forex.
EUR/USD forecast & technical analysis July 17, 2018 suggests a test of the resistance area near the level of 1.1710, from which one should expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1500, in favor of the decline will test the trend line on the indicator of relative strength index (RSI), the EUR/USD fall will be a strong growth and a breakdown at the level of 1.1750, which will indicate the continued growth of the pair in the area above the level of 1.1850.
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