Currency pair EUR USD closed the week at 1.0612. The pair continues to decline within the descending channel and currently retained potential for continuation of falling of euro dollar quotations in the area below the level of 1.0350.
In favor of a kitten fall is the breakdown of the rising trend line on the indicator of relative strength, which points to a potential breakdown of the nearest support area.
EUR USD Forecast on February 20, 2017 — February 24, 2017
Cancellation option EUR/USD falling to the current trading week will deliver strong growth and the breakdown of the descending channel’s upper border with the closing quotation above 1.08 level, which points to a continuation of the growth is in the area above the level of 1.10. With the breakdown of the 1.0350 area is expected to continue to decline below the level of 1.0350.
Among the important news on the next trading week, which may influence the course is to provide EUR USD, publication of the Fed meeting minutes of February 22, 2017, as well as the number of initial applications for unemployment benefits 23 February 2017.
EUR USD Forecast on February 20, 2017 — February 24, 2017 suggests an attempt to continue falling with the potential breakdown of 1.0350 area within the mining breached trend line on the indicator of relative strength.
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