Currency pair Euro Dollar EUR/USD closes the trading week near the area of 1.2129 and continues to move within the bullish channel. At the moment, we should expect an attempt to test the lower border of the channel near the level of 1.2100 and continue growth in the area above 1.2750.
EUR/USD weekly forecast April 30 — May 4, 2018
In favor of EUR/USD growth, breakdown of the resistance line on the relative strength index (RSI) will take place, as well as a test of the support level. The cancellation of the growth of the pair’s quotations in the current trading week will be a drop and breakdown at the level of 1.1950, which will indicate the breakdown of the lower border of the channel and the continuation of the pair’s fall into the area below the level of 1.1550.
EUR/USD weekly forecast April 30 — May 4, 2018 suggests an attempt to fall into the support area near the level of 1.2100, from where it is expected to continue growth in the area above 1.2750, in favor of growth will enter a breakdown of the trend line on the indicator of relative strength index (RSI), growth of the euro/dollar will fall and breakdown at the level of 1.1950, in which case we should expect the pair to continue falling with the potential target at the level of 1.1550.
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