Currency pair EUR USD closed the week at 1.0696. The pair was able to push off the resistance level and is currently retained potential for continuation of falling of euro dollar quotations in the region at the level of 1.05. In favor of this scenario will be in favor of the euro dollar rebound relative strength indicator values on a downward trend line, which also points to a continuation of the downward trend for the pair.
EUR USD Forecast on January 30, 2017 — February 3, 2017
From the level of 1.05 the couple can show a quality bounce up and in this case we can talk about the reversal of the current trend in favor of growth, however, if the EUR/USD pair continued to fall and can gain a foothold below the level 1.0450, it is necessary to give birth to an attempt to continue falling from the breakdown area of a local minimum. In favor of this option will make the breakdown of the rising trend line on the indicator of relative strength, which indicate the breakdown of an area of support 1.0350 closing prices.
Cancellation option of continuing fall of the euro the dollar on the next trading week will be a strong growth area and the breakdown of 1.0890 closing prices that will point to the extension of the growth of EUR/USD quotes.
Among the important news on the next trading week, which may influence the course EUR USD stands out, the FOMC decision on the basic interest rate, it is expected that rates will be left unchanged at 0.75%, but the rate increase will provoke a strong US currency rise, the decision will be held 1 in February 2017, and the publication of indicator NON-FARM PAYROLSS, change in the number of people employed in non-agricultural sector, the growth rate is expected at the level of 156K to 170K level, which may also provide support to the US dollar, the data will be presented February 3, 2017.
EUR USD Forecast on January 30, 2017 — February 3, 2017 suggests an attempt to continue the fall of the euro dollar to 1.05, this area will show a breakdown of the continuation of the downward trend from the breakdown level of 1.0350.
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