The currency pair Euro Dollar EUR/USD continues to move within the framework of the decline and formation of the «Triangle» model. At the moment, we should expect a test of the resistance level near the area of 1.1620, where we can expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.1355 level.
EUR/USD forecast & technical analysis July 3, 2018
In favor of falling quotations EUR/USD will form a reversal model «Head and Shoulders» on the indicator of relative strength index (RSI), as well as test the upper limit of the model «Triangle». The cancellation of the variant of the Euro/Dollar price decline will result in a strong growth and breakdown at the level of 1.1725, which will indicate the continuation of growth above the area of 1.1850. To expect confirmation of the pair EUR/USD decline is with the breakdown of the support area and the closing below the level of 1.1500.
EUR/USD forecast & technical analysis July 3, 2018 suggests an attempt to test the resistance area near the level of 1.1620, from which one should expect a rebound and an attempt to continue falling the pair into the area below the level of 1.1355, a strong signal in favor of the drop will make the formation of a reversal model on the indicator of relative strength index (RSI), the cancellation of the EUR/USD fall will be a breakdown at the level of 1.1725, indicating that the pair will continue to grow above 1.1850.
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