Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1788 and continues to move to the beginning of the development of the reversal model «Head and Shoulders». At this point, we should expect an attempt to test the broken neckline of the reversal model near the level of 1.1650. Where is the rebound expected and the continued growth of the euro with a potential target above 1.2100 as part of the model’s development.
EUR/USD weekly forecast & analysis September 24 — 28, 2018
In favor of the growth of the EUR/USD currency pair, a test of the support line on the indicator of relative strength index (RSI) will perform at Forex. The cancellation of the growth of the pair’s quotations on the current trading week on September 24 — 28, 2018 will be the fall and breakdown at the level of 1.1450, which will indicate the breakdown of the support area and the continuation of the fall of the pair into the area below the level of 1.1150. With the breakdown of the resistance area and the closing of quotes above the level of 1.1900, one should expect confirmation of the development of the bullish trend in the pair.
Among the important news from America and Europe in the next trading week that can influence the EUR/USD rate: it is worth highlighting: Consumer confidence indicator, FOMC decision on the main interest rate, FOMC accompanying statement, FOMC Economic forecast.
EUR/USD weekly forecast & analysis September 24 — 28, 2018 suggests a test of the test is more accurate than the bearish channel near the level of 1.1650, where we can expect the pair to start growing above 1.2100, in favor of growth, the trend line test will perform on the relative strength index (RSI), cancellation of the growth scenario of the euro dollar will fall and breakdown at 1.1450, in which case we should expect the pair to continue falling with a potential target at the level of 1.1150.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
