Euro Dollar forecast for August 13, 2018, EUR/USD rate analysis

The Euro / dollar exchange rate in the early morning of 13.08.2018 is at 1.1390.

The Euro is falling. However, like the rates of other currency pairs, to the strengthening dollar. EUR/USD quotes are below the Ichimoku cloud, which indicates a downward trend in the Euro Dollar. The red fast signal line crossed the blue slow top down in the middle of last week.

Euro Dollar forecast for August 13, 2018, EUR/USD rate analysis

The resistance level for the Euro Dollar is 1.1500. This is far from the current price, and exceeds the average size of the total daily movement of EUR/USD.

The level of support is also at a considerable distance. So far that it breaks into the monitor screen. The nearest support is 1.1300.

We expect that the Euro will continue to fall. However, a short-term rollback and testing of the previously broken channel boundary is possible. The strategy in this case will be to build up positions against the movement, with a stop outside the channel.

Thus, the Euro Dollar forecast for August 13 suggests a further decline in the Euro to the dollar, with a target below 1,1300. It is possible to roll back to 1.1500.

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