Technical analysis of EUR/USD 2018/05/07

The EUR/USD currency pair continues to move within the descending channel. At the moment, we should expect a test of the upper boundary of the downward channel near the area of 1.1980, where we can expect an attempt to rebound and continue the fall of the Euro Dollar with a target below 1.1885. In favor of falling quotes EUR/USD will test the trend line on the indicator RSI. The cancellation of the fall option will result in a strong growth and breakdown at the level of 1.20, which will indicate the breakdown of the upper boundary of the channel.


Created by Joshua Hayn

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