Technical analysis of EUR/USD 08/01/2018
The EUR/USD currency pair continues the correction and formation of the “Triangle” model. An important event tomorrow will be publication of the Fed’s decision on the rate, which can push the currency pair beyond the horizontal movement. At the moment, we should expect an attempt to test the upper limit of the Triangle model near the area of 1.1735, where we can expect an attempt to rebound and continue the decline of the Euro Dollar with a target below 1.1520. In favor of falling quotes of EUR/USD, a resistance line test will be performed on the RSI indicator.
Among the important news from Europe and America, which can influence the rate of the EUR/USD pair, there are: Change in the number of employees from ADP, ISM Production Index, FOMC decision on the basic interest rate, FOMC Supporting Statement.
Created by Joshua Hayn