The currency pair Euro to US Dollar EUR/USD continues to trade near the area of 1.1915. At the moment, the pair is testing the resistance area, we should expect a rebound attempt in the area below the level of 1.1960. Whence again it is necessary to expect a rebound and a fall of quotations of the pair with a target below the area of 1.1700.
EUR/USD forecast & analysis Euro Dollar on September 6, 2017
In favor of reducing the pair, a resistance line test will be performed on the relative strength indicator (RSI), as well as the formation of the «Head and Shoulders» reversal model. Cancellation of the variant of the fall in the quotes of the euro dollar on Forex will be a strong growth and breakdown at the level of 1.2020, which will indicate the continuation of growth of the pair with a potential target above 1.2150. Expect to accelerate the fall of the pair is with the breakdown of the lower boundary of the Triangle model.
Among the important news from Europe and America which can have a strong impact on the EUR/USD pair’s rate, it is worth noting: Composite ISM index for the non-production sphere, the growth of the indicator from the level of 53.9 to the level of 55.5 is expected.
EUR/USD forecast & analysis Euro Dollar on September 6, 2017 involves a rebound attempt from the upper limit of the «Triangle» model with a potential drop target near the area of 1.17, with a breakout of 1.2020, in which case it is expected to continue growing above 1.2150.
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