Currency pair EUR USD continues to develop upward correction, this option we were not expecting too much, but rather waited for the continuation of the downward trend for the pair. Currently quotes are very close to the resistance area at 1.1120, where the pair may find resistance and really where we should expect a rebound and began falling. An additional signal acts as another test of the descending channel. Also, the values of the negative forces of the indicator test resistance area, indicating a potential reversal upward correction in the near future.
EUR USD Euro Dollar Forecast on November 3, 2016
Of course, we expect the publication of FOMC decision on rates, which again further risks and very confused by this growth in the euro yesterday, as was obtained insider and a major participant in the market buying up euros and continues to increase the volume of purchases.
EUR USD Euro Dollar Forecast on November 3, 2016 suggests a tight test 1.1120 level and continue the fall, but the growth of quotations above 1.1180 level will indicate completion of the downtrend and the continuation of the bull trend of the pair.