Technical analysis of EUR/USD 2018/04/16
The EUR/USD currency pair continues to move within the ascending channel. At this point, we should expect an attempt to test the support area near the level of 1.22 and continue growth in the area above 1.2550.
The test support line on the RSI indicator as well as the test of the lower border of the rising channel and MA100 will be a confirmation of EUR/USD growth. The cancellation of the growth variant of the pair’s quotes in the current trading week will be a drop and a breakdown at the level of 1.1950 (MA200), which will indicate the breakdown of the channel lower border and the continuation of the pair fall into the area of 1.17.
Among the important news from America and Europe on this trading week, which can have an impact on the EUR/USD rate is worth highlighting: The change in the volume of retail trade, The volume of issued building permits.
Created by Joshua Hayn