Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1915 and continues to move in the fall. At the moment, we should expect an attempt to test the resistance area near the level of 1.2140 and the continuation of the fall of the euro dollar in the area below 1.1600.
EUR/USD weekly forecast May 14 — 18, 2018
In favor of the fall of EUR/USD, a breakdown test of the downlink on the relative strength index (RSI) will be performed, as well as a test of the upper boundary of the channel. The cancellation of the fall of the pair’s quotations in the current trading week will result in a strong growth and breakdown at the level of 1.2230, which will indicate the breakdown of the upper border of the channel and the continued growth of the pair into the area above the level of 1.2550.
EUR/USD weekly forecast May 14 — 18, 2018 suggests an attempt to increase in the resistance area near the level of 1.2140, where it is expected to continue the fall of the pair in the area below 1.1600, in favor of the fall will test the trend line on the indicator of relative strength index (RSI), the fall of the euro/dollar will be strong growth and breakdown at 1.2230, in which case we should expect the pair to continue growing with a potential target at 1.2550.