Currency pair EUR USD continues to move in the upward correction and currently quotes pair clamped within the forex Wedge pattern that suggests an attempt to reduce and testing of models with a view to a potential drop below 1.0350 areas.
EUR USD Forecast Forex Euro Dollar on January 25, 2017
In favor of the likely completion of the correction in favor tight test downward trend line on the indicator of relative strength, but expect to accelerate the fall is a breakdown of the lower limit of forex triangle patterns on the indicator of relative strength.
The immediate goal of the fall is the area at the level of 1.0620. However, we should not exclude the growth of quotations try the EUR/USD above the 1.0850 area. Among the important news that could have an impact on the euro dollar, stands out, the indicator of conditions of the business environment from IFO in Germany, it is expected the growth rate to the level of 111.0 to 111.3 level that can support the European currency.
EUR USD Forecast Forex Euro Dollar on January 25, 2017 suggests an attempt to complete the correction and the beginning of fall within the mining forex Wedge pattern with the immediate goal of the fall in the level of 1.0620.
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