Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1957 and continues to move within the fall. At this point, we should expect an attempt to test the lower border of the channel near the level of 1.2100 and the continuation of the fall of the euro/dollar in the area below 1.1600.
EUR/USD weekly forecast May 7 — 11, 2018
In favor of the fall of EUR/USD, there will be a breakdown of the downlink test on the relative strength index (RSI), as well as a resistance level test. 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 1.2250, which will indicate the breakdown of the lower border of the channel and the continuation of the pair’s growth into the area above the level of 1.2550.
EUR/USD weekly forecast May 7 — 11, 2018 suggests an attempt to increase in the resistance area near the level of 1.2100, 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).
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