Currency pair EUR USD continues to move in the lateral trend. At the moment, there is the potential for the pair to continue falling of quotations within the descending pattern head and shoulders with a view to fall below the level of 1.0550. Acceleration of the fall should not expect a breakdown level of the local minimum.
EUR USD Euro Dollar Forecast on December 2, 2016
Cancellation option decline of the euro dollar quotations will be strong growth in EUR USD pair above the 1.0680 level, which points to the breakdown of the upper boundary of the descending channel, in this embodiment is expected to continue the growth of quotations in the area above the level of 1.0850. Among the important news that may impact on the euro tomorrow, December 2, 2016 stands out, the unemployment rate in the US, it is expected that the rate will remain unchanged at 4.9%, as well as the change in the number of employed NON-FARM PAYROLLS sector expected a slight increase in the indicator at the level of 161K to 165K level, which can provide strong support for the US currency.
EUR USD Euro Dollar Forecast on December 2, 2016 suggests an attempt to fall in a local minimum within the region of the descending pattern head and shoulders, the cancellation will yield quotations for the descending channel.
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