The currency pair Euro Dollar EUR/USD continues to move within the bearish channel. At the moment, we should expect a test of the support level near the area of 1.2250, where again we should expect a rebound and continue the growth of the euro/dollar with a target above 1.2370.
EUR/USD forecast & technical analysis March 23, 2018
In favor of the EUR/USD quotes growth, the support area test will be performed on the relative strength index (RSI). Cancellation of the variant of the Euro/Dollar quotations growth will be a breakdown at the level of 1.2180, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of the Euro/Dollar below the level of 1.2100. To expect confirmation of the development of the upward trend for the pair is with the breakdown of the upper boundary of the bearish channel and the closing above the level of 1.2400.
EUR/USD forecast & technical analysis March 23, 2018 suggests a test of the support area near 1.2250, where we expect a rebound and an attempt to continue the pair’s growth above 1.2370, the cancellation of the EUR/USD growth option will be a breakdown at 1.2180, continued falling of the pair in the area below the level of 1.2100.
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