Currency pair EUR USD continues to move in the forex Wedge pattern and at the moment here reversal pattern forming head and shoulders, indicating that the attempt to fall below the level of 1.05. In favor of a continuation of falling of euro dollar quotes appears breakdown of the uptrend line on the indicator of relative strength.
EUR USD forecast Euro exchange rate on January 23, 2017
Expect EUR USD hasten the downfall of quotations is a breakdown of the level of 1.06. Cancellation option will be a strong growth area and the breakdown of 1.0750. We continue to keep selling the pair aggressively increase the amount of short positions on the pair.
Among the important news that could have an impact on the euro dollar, we should mention, the Bundesbank monthly report.
EUR USD forecast Euro exchange rate on January 23, 2017 suggests an attempt to fall within the beginning of working out a reversal forex head and shoulders pattern with the immediate goal at a level below the area of 1.05, the cancellation will be the breakdown of the area of a local maximum.
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