The currency pair Euro Dollar EUR/USD continues its movement within the framework of correction and formation of the «Triangle» model. At the moment, we should expect a test of the resistance level near the area of 1.1710, where we can expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below the level of 1.1250.
EUR/USD forecast & technical analysis June 20, 2018
In favor of falling quotations EUR/USD will test the bearish 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 1.1850, 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 pair’s decline is with the breakdown of the support area and closing below the level of 1.1500.
EUR/USD forecast & technical analysis June 20, 2018 suggests an attempt to test 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 1.1250, the cancellation of the EUR/USD fall will be a breakthrough at level 1.1850, which will indicate to continue the growth of the pair in the area above the level of 1.1950.
