Currency pair EUR USD continues to develop correction, but currently quotes a pair of re-testing resistance area, which implies an attempt to rebound and fall of the dollar to the euro below 1.0550. Cancellation option will reduce the strong price growth above the level of 1.07, which indicates the continuation EUR USD quotations growth in the area of resistance at 1.0850.
EUR USD Forex Euro Dollar Forecast on November 29, 2016
With the breakdown of the area of a local minimum we can expect acceleration of the downward trend. But do not try to exclude the growth of quotations in the area of 1.0680, where he will test the descending trend line on the indicator of relative strength that will point to a rebound and the development of a fall. Among the important news that may impact on the euro tomorrow, November 29, 2016 stands out, the consumer price index in Germany, is expected to reduce the index, change in the volume of GDP for the quarter in the United States, as well as the indicator of consumer confidence in the US, there is expected growth rate with level of 98.6 to 101.3 level that can support the US currency against the euro.
EUR USD Forex Euro Dollar Forecast on November 29, 2016 suggests a new attempt to fall in the rebound from the resistance area in order to reduce to below 1.0550 area, with the breakdown of which is expected to continue reducing the euro dollar.