Currency pair Euro Dollar EUR/USD ends the trading week near the 1.1463 area and continues to move in line with the decline. At the moment, we should expect an attempt to test the support area near the level of 1.1380. Where is the expected rebound and the continuation of the growth of the euro/dollar with a potential target above the level of 1.1720.
EUR/USD weekly forecast & analysis October 22 — 26, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the EUR/USD currency pair growth at Forex. Cancellation of the growth of quotations of the pair in the current trading week of October 22 — 26, 2018 will be a fall and a breakdown of the level of 1.1230, which will indicate a breakdown of the support area and the continuation of the fall of the pair to the area below the level of 1.0750. With a breakdown of the downward trend line and closing of quotes above the level of 1.1550, we should expect confirmation of the development of the upward trend in the pair.
Among the important news from America and Europe in the next trading week, which may affect the EUR/USD rate, it is worth highlighting: Publication of the ECB’s decision on the basic interest rate, ECB Press Conference, Change in the volume of orders for durable goods, Change in GDP for quarter.
EUR/USD weekly forecast & analysis October 22 — 26, 2018 implies an attempt to test the support area near the level of 1.1380, where we can expect the pair to continue to grow to the area above the level of 1.1720, in favor of growth will be a test of the trend line on the relative strength index (RSI) the growth of the euro the dollar will fall and the breakdown level of 1.1230, in this case, we can expect to continue to reduce the pair with a potential goal at 1.0750.
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