Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1752 and continues to move within the framework of the «Triangle» model. At this point, we should expect an attempt to test the support area near the level of 1.1650 and the beginning of the growth of the euro dollar in the area above the level of 1.2070.
EUR/USD weekly forecast July 9 — 13, 2018
In favor of the growth of EUR/USD is the formation of the reversal model «Head and Shoulders» on the indicator of relative strength index (RSI). 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 1.1450, which will indicate the breakdown of the support area and the continuation of the pair’s fall into the area below the level of 1.1050. With the breakdown of the upper limit of the «Triangle» model and the closing above the level of 1.1840, one should expect a confirmation of the development of the upward correction for the pair.
EUR/USD weekly forecast July 9 — 13, 2018 suggests an attempt to fall into the support area near the level of 1.1650, where we can expect the pair to start growing above 1.2070, in favor of growth, the head and shoulders an indicator of relative strength, the abolition of the growth scenario of the euro/dollar will fall and breakdown at the level of 1.1450, in which case we should expect the pair to continue falling with a potential target at the level of 1.1050.