EURUSD forecast Euro Dollar Opened decreased 0.0017 or 0.14% to 1.1789 on Friday August 25 from 1.1805 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.
The currency pair Euro to US Dollar EUR/USD continues to trade within the framework of lateral movement. At the moment, we should expect the continuation of growth in the area above the level of 1.1880. Whence again it is necessary to expect a rebound and the beginning of falling of quotations of pair EUR/USD in the area below level 1.17.
In favor of the drop, a resistance line test will be performed on the relative strength indicator (RSI). Cancellation of the variant of falling quotations of the euro/dollar for Forex will be breakdown at the level of 1.1940, indicating that the pair will continue to grow with a potential target above the level of 1.2050. Expect to accelerate the fall of quotations is with the breakdown of level 1.16.
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