Currency pair EUR USD EUR USD at the beginning of December 2016 firmly testing the lower boundary of the area forex triangle patterns. At the moment, there is the potential for the formation of the descending pattern is 1:1 in order to fall below the level of 1.0370. To complete this model, it is important to see the test level of 1.0820, where one can consider selling the pair with the tight stop.
EUR USD forecast Euro exchange rate at December 2016
Cancellation option drop and bearish forex mining model will be strong growth above the level of 1.10, in which case we should expect continued growth and tight test of the upper boundary of the forex triangle patterns. Among the important events in December 2016, which may have an impact on the European currency stands out, Publication of the ECB’s decision on the basic interest rate of 8 December 2016, it is expected that the rate will remain unchanged, as well as the FOMC decision on the basic interest rate December 14, 2016 .
EUR USD forecast Euro exchange rate at December 2016 suggests an attempt to complete the descending pattern 1:1 with the test area above the level of 1.08, where can consider selling eurusd with tight stop, the potential to reduce the area below the level of 1.0370.