Currency pair EUR USD showed continued growth in the time of the decision of the ECB rate and the subsequent news conference. However, at the moment there was a tight test of the descending line of resistance on the relative strength indicator, which indicates the fall of quotations attempt EUR USD pair from the current levels.
EUR USD Forecast Euro Dollar on September 12, 2016
Cancellation option may be continued growth in the euro above the local maximum level that will point to the abolition of the forex head and shoulders pattern. On the other hand until the model has not been abolished is expected to attempt to continue falling and start mining the forex reversal patterns. An additional signal would be the correction the pair to 1.1270, followed by the breakdown of the level 1.1230, which will indicate the level of potential test the neckline. The overall aim of improving the model is the area below the level of 1.10.
EUR USD Forecast Euro Dollar on September 12, 2016 assumes the completion of the right shoulder and began to model the fall of the pair of quotes in the area at the level of 1.1140, the cancellation will be the breakdown of the closing prices of the area of 1.1370.
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