Currency pair EUR USD continues to move in an uptrend, currently retained potential for completion of the current correction and the beginning of the fall due to the formation of reversal pattern double top for the purpose of falling below 1.06.
EUR USD Forecast Euro Dollar on February 6, 2017
We try to sell the pair aggressive and ready to build short positions as far as reducing the development. In favor of a drop in prices pair EUR/USD stands to rebound from the resistance line on the indicator of relative strength.
Cancellation option will drop the pair quotation strong price growth above the level of 1.0850, which could point to continued growth in the region of 1.09.
Near the 1.06 level we can expect a rebound attempt and the beginning of the formation of a greater reversal of forex head and shoulders pattern with a potential to reduce mining and below 1.04 area.
Among the important news in Forex, which may have an impact on the euro dollar, we should mention, Change the volume of orders in the industry in Germany.
EUR USD Forecast Euro Dollar on February 6, 2017 suggests an attempt to fall to 1.06 in the framework of working out a double top reversal dressed, the cancellation option will break-down area of a local maximum.
