EUR USD Forecast Euro Dollar on November 1, 2016


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Currency pair EUR USD Euro Dollar continues moving inside the descending channel, the pair correction will be continued, but it is too early to talk about the reversal of the current trend. At this point in favor of the fall is the next test the resistance line on the indicator of relative strength, also cannot exclude an attempt to test the upper limit of the downward channel. We continue to hold the sale of the euro dollar and try new short positions; cancellation scenario will be a strong growth of quotations above level 1.1030, which will point to a pair of quotations going beyond the upper limit of the downward channel.

EUR USD Forecast Euro Dollar on November 1, 2016

EUR USD Forecast Euro Dollar on November 1, 2016

The purpose of the fall in the event of a successful rebound from the top of the area at a level below 1.07.

EUR USD Forecast Euro Dollar on November 1, 2016 suggests an attempt to continue the reduction in the framework of the descending forex 1: 1 model in order to update the area of a local minimum, the cancellation will be the quotation leaves the channel.

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