Currency pair Euro Dollar EUR/USD closes the trading week near the area of 1.1616 and continues to move within the bearish trend. At this point, we should expect a test of the resistance area near the level of 1.1740 and the continuation of the fall of the euro dollar in the area below the level of 1.1125.
EUR/USD weekly forecast June 18 — 22, 2018
In favor of the fall of EUR/USD, a downtrend test on the relative strength index (RSI) will perform. The cancellation of the fall of the pair’s quotes in the current trading week will result in a strong growth and breakdown at the level of 1.1870, which will indicate the breakdown of the upper border of the channel and the continuation of the pair’s growth to the level above 1.2250. With the breakdown of the support area and the closing below the level of 1.1480, one should expect confirmation of the development of the bearish trend.
EUR/USD weekly forecast June 18 — 22, 2018 suggests an attempt to increase to the upper channel near the level of 1.1740, from which it is expected to continue the fall of the pair in the area below the level of 1.1125, in favor of the fall will test the trend line on the indicator of relative strength index (RSI), the abolition of the euro decline option will be a strong growth and breakdown at the level of 1.1870, in which case we should expect the pair to continue growing with a potential target at 1.2250.
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