Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1672 and continues to move within the correction. At the moment, we should expect an attempt to test the resistance area near the level of 1.1850 and the continuation of the fall of the euro dollar in the area below 1.1150.
EUR/USD weekly forecast June 4 — 8, 2018
In favor of the fall of EUR/USD, a downlink test will be performed on the relative strength index (RSI), as well as a test of the upper boundary of the bearish channel. The cancellation of the fall of the pair’s quotations in the current trading week will be a strong growth and breakdown at the level of 1.2090, which will indicate the breakdown of the channel’s borders and the continuation of the pair’s growth into the area above the level of 1.2450.
EUR/USD weekly forecast June 4 — 8, 2018 suggests an attempt to increase in the resistance area near the level of 1.1850, where we can expect the pair to continue falling below 1.1150, in favor of the drop, the trend line test will be performed on the indicator of relative strength index (RSI), the fall of the euro/dollar will be strong growth and breakdown at the level of 1.2090, in which case we should expect the pair to continue growing with a potential target at 1.2450.
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