Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.2323 and continues to move within the bullish channel. At the moment, we should expect an attempt to test the support area near the level of 1.2150 and continue growth in the area above 1.2950. In favor of the EUR/USD growth, the line test will be supported on the relative strength index (RSI), as well as the test of the lower border of the bullish channel.
EUR/USD weekly forecast on March 12 — 16, 2018
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 on March 12 — 16, 2018 suggests an attempt to fall into the support area near the level of 1.2150, from where it is expected to continue growth in the area above 1.2950, in favor of growth will enter a trend line test on the indicator of relative strength index (RSI), euro/dollar will fall and breakdown at the level of 1.1950, in this case, we should expect the pair to continue to decline.