Technical analysis of EUR/USD 05/18/2018

EUR/USD currency pair continues to move within the downward trend. Now one should expect a test of the upper border of the channel near 1.1820, where it is expected an attempt to rebound and continue the fall with a target in the area of 1.17.

In favor of the fall, there will be a resistance line test on the RSI indicator. The cancellation of the euro’s fall will be a strong growth and a breakdown of the level of 1.2 what indicates the breakdown of the resistance area and the continuing growth of the pair.

EURUSD_STPH4

 

Created by Joshua Hayn

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