Technical Analysis of EUR/USD 2018/04/12
The currency pair EUR/USD continues to form the figure “Triangle”. At the moment, we should expect the resistance level test near the area of 1.2430, where again we should expect an attempt to rebound and continue the fall of the European currency with a target below 1.2220.
The resistance area test on the indicator RSI will acts In favor of falling quotes EUR/USD. Break of the level of 1.2480 will cancel the variant of the fall, which will indicate the upper limit breakdown of the “Triangle” model and the pair’s growth continuation above the level of 1.25. Confirmation of the falling in the pair is expected, with the breakdown of the support area and the closing below the level of 1.23.
Created by Joshua Hayn