Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1407 and continues to move within the bearish trend. At the moment, we should expect an upward correction test and a test of the upper boundary of the downlink near level 1.1530. Where is the rebound expected and the continuation of the fall of the euro with a potential target below the level of 1.0950.
EUR/USD weekly forecast & analysis August 20 — 24, 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 quotes on the current trading week on August 20 — 24, 2018 will be a strong growth and breakdown at the level of 1.1600, which will indicate the breakdown of the resistance area and the continued growth of the pair into the area above the level of 1.1950. With the breakdown of the support area and the closing of quotes below the level of 1.1255, we should expect confirmation of the development of a bearish trend in the pair.
EUR/USD weekly forecast & analysis August 20 — 24, 2018 suggests a test of the test of the upper boundary of the bearish channel near the level of 1.1530, from where it is expected to start the pair fall into the area below the level of 1.0950, in favor of the decline will test the trend line on the indicator of relative strength index (RSI), the abolition of the fall of the euro dollar will be strong growth and breakdown at the level of 1.1600, in which case it is necessary to expect the pair to continue growing with a potential target at the level of 1.1950.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
