Currency pair EUR USD closed the week at 1.0784. Quotes tight test the upper boundary of the downtrend channel and resistance area. In favor of the rebound and started euro quotations falling dollar stands the test downward trend line on the indicator of relative strength.
EUR USD forecast on February 6, 2017 — February 10, 2017
However, the breakdown of this line will point to a continuation of the growth of quotations of the dollar in the euro area above the 1.14 level within the framework of a similar test of the trend line on a chart, the pair is trading below this line should consider selling the euro against the dollar. Therefore, the next trading week should not expect a rebound attempt quotes from the 1.0850 area and reduce to 1.05 within the beginning of the formation of topping model.
Unfortunately, even the publication NON-FARM PAYROLLS data indicator 227K vs. 175K jobs did not help the US dollar show growth against the euro, which may indicate the strength of the European currency at a given time.
Among the important news on the next trading week, which may influence the course is to provide EUR USD, Speech by ECB President Mario Draghi speech February 6, 2017, as well as consumer sentiment index from the University of Michigan on February 10, 2017.
EUR USD forecast on February 6, 2017 — February 10, 2017 suggests an attempt to rebound from the resistance area and began to fall in the region at the level of 1.05, the cancellation options 1.10 mill breakdown field that points to continued growth of the euro dollar to above 1.14 level.
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