Technical analysis of EUR/USD 05/25/2018

The currency pair EUR/USD continues to move within the downward trend. At this point, we should expect an attempt to test the upper border of the channel and (MA 200) near the level of 1.1800, from which we should expect a rebound and the continuation of the fall of the European currency below the level of 1.1670.

In favor of falling quotes EUR/USD will perform a downlink resistance test on the indicator RSI. Cancellation of the fall option will be a strong growth and breakdown at the level of 1.1850, which will indicate the breakdown of the upper boundary of the channel.

Among the important news from Europe and America, which can influence the rate of the EUR/USD pair, it is worth highlighting: Changes in the volume of orders for durable goods.

Created by Joshua Hayn

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