Currency pair EUR USD continues to move in the descending channel and is currently testing the resistance area tightly. In favor of reduction of quotations pair appears rebound relative strength indicator values from the descending line of resistance with a potential to reduce the level below 1.03 area.
EUR USD Euro Dollar Forecast on January 3, 2017
We are trying to sell a currency pair eur usd with tight stop. An additional signal acts and the formation of the descending pattern forex Wolfe waves.
Cancellation of the fall of quotations options EUR USD deliver sample the upper limit of the downward channel and price growth above the level of 1.07, which indicates the continuation of upward correction for the pair.
Expect accelerating decline only after the breakdown field of the local minimum. Among the important news that could have an impact on the euro dollar is January 3, 2017, is to provide a series of data from Germany, the change in the number of unemployed, unemployment rate, consumer price index, harmonized index of consumer prices, the index of US manufacturing ISM.
EUR USD Euro Dollar Forecast on January 3, 2017 suggests an attempt to continue the reduction in the framework of mining forex wave pattern Wolfe with the potential to reduce the level below 1.03 area.
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