Currency pair EUR USD continues to move in the upward correction and now is an attempt to break the upper boundary of the descending channel that points to continued growth in the area of resistance at 1.0850 and then we can expect the formation of signs of a reversal trend with a view above the level of 1.14.
EUR USD Forecast Euro Dollar on January 13, 2017
However, so far there is no full penetration of the channel, too early to talk about the reversal of the current trend. The values of the relative strength indicator pushed from the lower support line and currently traded value in the model Triangle, which also points to the uncertainty in the market.
Among the important news that could have an impact on the euro dollar, we should mention, the speech of the Federal Reserve Janet Yellen, Retail Sales, Producer Price Index, as well as consumer sentiment index from the University of Michigan.
EUR USD Forecast Euro Dollar on January 13, 2017 suggests another attempt to rebound to the nearest support at 1.05, the cancellation option will quote the euro strengthening dollar for the upper boundary of the channel descends.
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