Currency pair EUR USD closed the week at 1.0984. At the moment, there is the potential for the formation of the descending pattern forex 1:1 in order to fall below the level of 1.07. We should expect an attempt to test the upper boundary of the model, and a new attempt to fall. We continue to hold the sale of the euro dollar, but quotations leaves the descending channel cancels the option to drop.
EUR USD Euro Dollar Forecast on October 31, 2016 — November 4, 2016
An additional signal in favor of the falling euro, the dollar next week’s trading will test the descending trend line on the indicator of relative strength.
EUR USD Euro Dollar Forecast on October 31, 2016 — November 4, 2016 suggests an attempt to drop a pair after a minor correction to the upper boundary of the descending pattern 1:1 with a view to a potential fall in the level below 1.07 area.