Currency pair EUR USD showed strong growth in the current trading week, however, this movement took place in line with expectations, and the overall picture is in favor of continuing the fall of the euro dollar quotations did not change in the near future. Currency pair EUR USD continue to trade within a large triangle pattern, indicating that the continuing uncertainty, we see a strong movement since the breakdown of the model to one side.
EUR USD Forecast Euro Dollar on 22 August — 26 August, 2016
Based on the daily chart of the euro the dollar, there is a test downward trend line on the indicator of relative strength, which indicates a potential euro rebound against the dollar, like bounce we’ve seen and the market feels this resistance line on the display. A potential target of the fall in the euro exchange next week is the area at the level of 1.10. Cancellation option of falling can be strong growth and the breakdown level of 1.16, which indicates an upward breakout model Triangle, and then is expected to continue growing. An additional signal to fall also enters the formation of the descending pattern Wolfe waves, indicating a rebound from the resistance and the development of a downward movement.
EUR USD Forecast Euro Dollar on 22 August — 26 August, 2016 suggests an attempt to fall in the rebound from the trend line on the indicator of the relative strength and by working out a bearish wave Wolfe.
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