Currency pair EUR USD continues to move in the descending channel and currently very close to the local minimum of the field, the breakdown of which points to the continued decline in the area below the level of 1.0250.
EUR USD Forecast Forex Euro Dollar on January 4, 2017
We continue to hold the euro against the US dollar selling and aggressively increase the amount of short positions. But do not rule out euro correction attempt to 1.0480 under the complete forex head and shoulders pattern on the continuation of the fall.
Cancellation option will be the reduction of quotations couple sample the upper limit of the downward channel with closing above the level 1.0530, which will point to a continuation of upward correction for the pair. Expect acceleration reduction is a breakdown of the trend line on the indicator of relative strength.
Among the important news that could affect the euro currency pair dollar tomorrow, January 4, 2017, stands out, the consumer price index, the main index of consumer prices in the EU, as well as the publication of the Fed’s meeting minutes that can help a couple to break the area of a local minimum.
EUR USD Forecast Forex Euro Dollar on January 4, 2017 suggests an attempt to continue falling with the potential to reduce the level below the area of 1.0250, this scenario will be the abolition of the strong growth of quotations EUR USD above the 1.0530 level.
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