Currency pair EUR USD continues to move in line with expectations and our forecast of the euro the dollar tomorrow. At the moment, the pair tested the resistance area, and here we can expect the completion of the right shoulder reversal pattern Forex Head and shoulders in order to develop at a level below 1.02 area.
EUR USD Forecast Euro Dollar on January 5, 2017
Cancellation of euro quotations falling dollar version will sample area of 1.0550, which indicates an continued growth and development of the upward correction of the currency pair EUR USD. Expect accelerating drop in prices pair is a breakdown of the area of a local minimum that will point to the breakdown of the neckline is a reversal pattern.
In favor of the version of the fall and the formation of reversal pattern appears on the display relative strength. Among the important news that could affect the euro tomorrow, January 5, 2017, is to provide, change in the number of employees from the ADP, The number of initial applications for benefits for unemployment in the US, ISM composite index for the non-productive sphere.
EUR USD Forecast Euro Dollar on January 5, 2017 suggests an attempt to continue falling in the framework of start mining the forex head and shoulders pattern on the continuation of the reduction of the potential target of the fall to a level below 1.02 area.
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