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Main » 2018 » August » 6 » The EUR / USD Forecast 08/07/2018
21:43
The EUR / USD Forecast 08/07/2018

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The US currency continues to put pressure on the euro. The dollar exchange rate had a positive impact of Friday's statistics on the US labor market. The pair is currently trading at EURUSD 1.1560, which is about 30-40 pips below Friday's closing price. In the morning the price fell to around 1.1530. It turned out that the EURUSD tested the lower line "descending triangle", which is on the four-hour timeframe (H4):

 

 

 

 

 

Previously discussed that the EURUSD chart, sooner or later will test the lower triangle line, which is at around 1.1530.


It is likely, as long as all the fundamentals are in favor of the dollar against the euro. Therefore, we can assume that in the coming days schedule EURUSD will try to break through the lower triangle line. Perhaps, even if on a background of unexpected volatility in the dollar starts to weaken, then the EURUSD will rise approximately to the upper line of the triangle, ie, to the level of 1.1640.

 

Analysis and forecast of EUR / USD Vesselin Petkov Alpari

 

 

 

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