Currency pair EUR USD Euro Dollar continues moving inside the descending channel, and at the moment there is a potential for correction to the upper boundary of the channel, which is expected to complete the forex head and shoulders pattern that indicates an continuation of the reduction in the area below the level of 1.0350.
EUR USD Forecast Euro rate Forex January 10, 2017
Cancellation option euro quotations falling dollar will become stronger growth and the breakdown of 1.0650 area, that will indicate the quotations leaves the channel, as well as the abolition of the forex head and shoulders pattern.
Is expected to accelerate the fall of quotes EUR USD is 1.0500 from the breakdown area. In favor of a continuation of the fall also serves the completion of the formation of the right shoulder reversal pattern on the indicator of relative strength.
Among the important news in the forex that can deny a strong impact on the euro to the US dollar, is to provide, number of vacancies in the labor market JOLTS for November 2016, the growth rate is expected, which could put pressure on the dollar.
EUR USD Forecast Euro rate Forex January 10, 2017 suggests an attempt to fall in the rebound from the top downward forex model boundaries in the area below the level 1.0350, in favor of the reduction will make the completion of formation of the head and shoulders pattern on the shorter periods of time.
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