The currency pair Euro Dollar EUR/USD continues to move within the framework of the upward correction. At the moment, we should expect a test of the resistance level near the area of 1.1820, where we can expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.1650.
EUR/USD forecast & technical analysis June 13, 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 decline will result in a strong growth and breakdown at the level of 1.1860, which will indicate the breakdown of the upper limit of the «Triangle» model and the continued growth of the Euro/Dollar above the level of 1.1950. To expect confirmation of the continuation of the pair’s decline is the breakdown of the lower bound of the «Triangle» model and the closing below the level of 1.1720.
EUR/USD forecast & technical analysis June 13, 2018 suggests an attempt to test the resistance area near the level of 1.1820, from which one should expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1650, the cancellation of the EUR/USD fall will be a breakthrough at level 1.1860, which will indicate to continue the growth of the pair in the area above the level of 1.2050.