The currency pair Euro to US Dollar EUR/USD continues to be traded within the framework of the formation of the reversal model the «Double Top». It is necessary to expect a decrease in the quotations of the euro/dollar after the breakdown of the uptrend line.
EUR/USD forecast & analysis Euro Dollar on July 11, 2017
Expect the acceleration of the fall is with the breakdown of the support area at the level of 1.1300. An additional signal is the formation of the «Head and Shoulders» reversal pattern on the relative strength indicator. The abolition of the pair’s decline will be a strong growth and a breakdown at level 1.1470, which will indicate the continued growth of the pair.
Among the important news that may affect the euro against the dollar, it is worth highlighting: the meeting of the Council of Ministers of Finance of the EU countries, the level of vacancies and turnover of labor from the Bureau of Labor Statistics.
EUR/USD forecast & analysis Euro Dollar on July 11, 2017 suggests an attempt to fall as part of the start of the development of the reversal model a «Double Top» with a potential downside target below 1.12, the cancellation of the fall version will be strong growth and breakdown at 1.1470 level.
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