Technical analysis and week forecast for EUR/USD
Currency pair EUR/USD has reached the goal at the level of 1.08, and now shows the correction. On the daily chart of EUR/USD, it is seen that there was a retest of the upper limit of the global downward trend, which was broken at the beginning of February. The RSI indicator shows a rebound from the support level, indicating a further increase of the euro. Thus, EUR/USD forecast for the week suggests upward movement formed within the ascending channel, the main target is near 1.14 level.
Alternative scenario: “bears” of the euro are still able to continue the downward trend and return quotes to the scope of the previous trend breakdown level 1.0750
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