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 1.1720, where we can expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.1505.
EUR/USD forecast & technical analysis July 4, 2018
In favor of falling quotations EUR/USD will test the downward trend line on the indicator of relative strength index (RSI). The cancellation of the variant of the Euro/Dollar price drop will result in a strong growth and breakdown at the level of 1.1825, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of growth above the area of 1.1950. To expect confirmation of the development of the bearish trend for the pair EUR/USD is with the breakdown of the support area and the closing below the level of 1.1490.
EUR/USD forecast & technical analysis July 4, 2018 suggests an attempt to test the resistance area near the level of 1.1720, from which we expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1505, a strong signal in favor of the fall will test the resistance line on the indicator of relative strength index (RSI), the cancellation of the EUR/USD fall will be a breakdown at the level of 1.1825, which indicates that the pair will continue to grow above 1.1950.
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