Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1883. The pair continues to trade within the bullish channel. At the moment, the potential for continued growth of the pair in the area above the level of 1.22 remains. In favor of the growth of EUR/USD is the test of the support line on the indicator of relative strength index (RSI), and also the test of the lower border of the channel.
EUR USD weekly forecast on August 28 — September 1, 2017
The abolition of the growth option will be a drop and a breakdown at the level of 1.1620, which will indicate the continuation of the pair’s decline into the area below the level of 1.09. Expect further growth is after a minor correction of quotations of the euro/dollar in the area of the border of the channel.
Among the important news from America and Europe in the next trading week that can influence the EUR/USD rate is: Consumer confidence indicator, Change in the number of employees from ADP, Number of initial applications for unemployment benefits, Unemployment rate, Change in the number of people employed in non-agricultural Sector, Production index ISM.
EUR USD weekly forecast on August 28 — September 1, 2017 involves an attempt to test the lower border of the channel and continue to grow the pair in the area above the level of 1.21, an additional signal in favor of growth is the rebound from the trend line on the indicator of relative strength.
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