Currency pair EUR USD continues to move in the fall, at the moment quotes could push off from the support area. We should expect another attempt to fall in the rebound from the downward trend line on the indicator of relative strength.
EUR USD Euro Dollar forecast 6 March 2017
This structure is a model of forex descending triangle, the breakdown of the lower boundary of the model indicates the acceleration of the fall to below 1.0350. Cancellation option will make the sample fall of quotations 1.0640 area, that will indicate the completion of the reduction and the beginning of growth with a potential target area above 1.09.
Among the important news that could affect the rate of the euro against the dollar, we should mention, change in volume production orders, the FOMC members presentation speech.
EUR USD Euro Dollar forecast 6 March 2017 suggests an attempt to continue falling in the rebound from the region downward trend line on the indicator of relative strength, with a breakdown of the area of the lower boundary of the model is expected to accelerate the Triangle fall.
