Currency pair EUR USD ends the week trading near the upper limit of correction downward channel. At the moment, preserved potential to rebound and fall to a local minimum. In favor of the version of the fall of the euro dollar quotes appears tight test downward trend line on the indicator of relative strength. Is expected to accelerate the fall of the fall of quotations EUR USD is a breakdown of the uptrend line on the indicator of relative strength.
EUR USD Forecast Euro Dollar on January 16, 2017 — January 20, 2017
Cancellation option will be the closing quotation of the pair above the level 1.0720, which will indicate the channel breakdown and the beginning of formation of an inverted forex model head and shoulders, the first upside target in this case will make the region at the level of 1.0850, after which we can expect again drop to below the level of 1.0550 and the beginning significant growth in the euro dollar.
Among the important news on the next trading week, which may influence the course EUR USD is to provide the consumer price index in the United States January 18, 2017, decision of the ECB’s main lending rate and the press conference of the ECB January 19, 2017, speech of Fed Chairman Janet Yellen and a speech Donald Trump January 20, 2017.
EUR USD Forecast Euro Dollar on January 16, 2017 — January 20, 2017 suggests an attempt to prison from the upper boundary of the channel to a local minimum in the case of a breakdown of 1.0720 area, we should expect a tight test of 1.0850 area as part of the beginning of the formation of topping models forex head and shoulders.
