Technical analysis of EUR/USD 08/16/2018

Technical analysis of EUR / USD.

The EUR / USD currency pair continues its downward movement. At this point, we should expect an attempt to test the upper boundary of the downward channel near the 1.1360 area, where we can expect an attempt to bounce and continue the EUR/USD falling with a target below the 1.1250 level.

In favor of falling EUR / USD quotes will be a downtrend test on the RSI indicator. Canceling the option to reduce quotes of the European currency will result in a strong growth and breakdown at the 1.1500 level. It will indicate the breakdown of the resistance area and the continuation of growth.

Among the important news from Europe and US, which may affect the EUR / USD pair rate, it is worth highlighting: The change in the volume of retail trade in the US. It is expected to slightly index decrease, which may have a short-term pressure on the US dollar rate.

EURUSD_STPH4

Created by Joshua Hayn

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