Technical analysis of EUR/USD 2018-03-16

The currency pair EUR/USD continues to move within the correction. At the moment, we should expect a test of the support level near the area of ​​1.2250, where again we should expect a rebound attempt and the continued growth of the euro dollar with a target above 1.2440

In favor of the growth of quotes is the support line test on the RSI indicator. The cancellation of the growth option will be a breakdown at the level of 1.22, which will indicate the breakdown of the support area and the continuation of the fall of the European currency below the level of 1.2150. The development of the upward trend for the pair with the breakdown of the region of 1.2450 is expected.

Among the important news from Europe and the US, which can affect the rate of the EUR/USD pair, it is worth highlighting: The volume of issued construction permits.


Created by Joshua Hayn

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