Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1452 and continues to move within the start of the «Triangle» model development. At the moment, we should expect an attempt to test the lower limit of the model near the level of 1.1550 and continue the fall of the euro/dollar to the area below the level of 1.0915.
EUR/USD weekly forecast & analysis August 13 — 17, 2018
In favor of the EUR/USD decline, a resistance line test will be performed on the relative strength index (RSI). The cancellation of the fall of the pair’s quotations on the current trading week of August 13 — 17, 2018 will be a strong growth and breakdown at the level of 1.1750, which will indicate the breakdown of the resistance area and the continued growth of the pair to the level above 1.2150. With the breakdown of the lower boundary of the bullish channel and the closing of quotations below the level of 1.1185, one should expect confirmation of the development of a bearish trend in the pair.
EUR/USD weekly forecast & analysis August 13 — 17, 2018 suggests an attempt to test the lower limit of the «Triangle» model near the level of 1.1550, where it is expected to start the pair fall into the area below the level of 1.0915, in favor of the decline, the trend line test on the indicator of relative strength index (RSI), the cancellation of the variant of the fall of the euro/dollar will be a strong growth and breakdown at the level of 1.1750, in which case we should expect the pair to continue growing with a potential target at 1.2150.