Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1349. The pair continues to move in decline. At the moment, we should expect an attempt to test the resistance area near the level of 1.1515. Where is expected to rebound and the continuation of the fall of the euro/dollar. The potential target of the decline is the area below 1.0945.
EUR/USD weekly forecast & analysis November 19 — 23, 2018
The test of the trend line on the relative strength index (RSI) will be in favor of the fall of the EUR/USD currency pair at Forex. And also test the upper limit of the bearish channel. Cancellation of the option of falling quotations of the pair in the current trading week November 19 — 23, 2018, will be a strong growth and the breakdown level of 1.1700. This will indicate a breakdown of the upper boundary of the downward channel and the continued growth of the pair in the area above the level of 1.2050. With the breakdown of the support area and the closing of quotes below the level of 1.1160, we should expect confirmation of the development of a downtrend in the pair.
Among the important news from America and Europe in the next trading week, which may have an impact on the EUR/USD rate, it is worth highlighting: Changes in the volume of orders for durable goods, the ECB Report from the monetary policy meeting.
EUR/USD weekly forecast & analysis November 19 — 23, 2018 suggests an attempt to test the resistance area near the 1.1515 level. Where can we expect to continue the fall of the pair in the area below the level of 1.0945. The test of the trend line on the relative strength index (RSI) will be in favor of the fall. Cancellation of the option of reducing the euro/dollar will be a strong growth and the breakdown level of 1.1700. In this case, we can expect the pair to continue to grow with a potential goal at the level of 1.2050.
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