The currency pair Euro Dollar EUR/USD continues to move within the limits of the decline. At the moment, we should expect a test of the upper boundary of the bearish channel near the area of 1.2025, where we can expect an attempt to rebound and continue the decline of the Euro/Dollar with a target below 1.1880.
EUR/USD forecast & technical analysis May 3, 2018
In favor of falling quotations EUR/USD will perform a downward trend test of the support trend 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 1.2060, which will indicate the breakdown of the resistance area and the continued growth of the Euro/Dollar above the level of 1.2170. To expect confirmation of the development of the bearish trend for the pair is with the breakdown of the support area and the closing below the level of 1.1950.
EUR/USD forecast & technical analysis May 3, 2018 The estimated test of resistance area attempt to near the level of 1.2025, where we can expect a rebound and attempt to continue falling of pair in the area below the level of 1.1870, the cancellation option fall of EUR/USD will be the breakdown of the level 1.2060, which will indicate to continue the growth of the pair in the area above the level of 1.2170.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
