Currency pair EUR/USD closed the week at 1.0558. The pair stayed close to the important area of support at 1.0550, the breakdown of this area will indicate the continued decline in the area below the level of 1.0350. In favor of a continuation of falling of euro dollar quotes appears breakdown of the uptrend line on the indicator of relative strength.
EUR/USD Forecast on 27 February, 2017 — 3 March, 2017
Cancellation option quotations falling EUR/USD will perform sample upper border of the descending channel with the closing quotation above 1.08 area, in this case it is necessary to consider this structure for the euro as a pivot forex head and shoulders pattern that points to continued growth in the region above the level of 1.14. However, as the primary option is expected to attempt to continue falling euro dollar quotes.
Among the important news on the next trading week, which may influence the course EUR USD stands out, Change the volume of orders for durable goods February 27, 2017, the indicator of consumer confidence 28 February 2017, Manufacturing ISM index of March 1, 2017, The number of initial applications for benefits for unemployment March 2, 2017, the composite index for the ISM non-manufacturing sphere, Speech Fed chairman Janet Yellen March 3, 2017.
EUR/USD Forecast on 27 February, 2017 — 3 March, 2017 suggests an attempt to continue the reduction in the downward channel in the area below the 1.0350 level, the abolition of the sample scenario will be the channel’s upper border and consolidation quotes above the level of 1.08.
