The currency pair euro dollar EUR USD continues to move within the tight test of the upper limit of the Forex Triangle model. Also, the pair continues to trade within the forex model of the Wedge, the breakdown of which will indicate the completion of growth in the euro dollar and the beginning of the decline in the region, the level of 1.07.
EUR/USD Forecast Euro Dollar on 24 March, 2017
In favor of accelerating the decline in the pair’s quotations, a breakdown of the upward support line on the relative strength indicator will come out. The cancellation of the option may result in a strong growth and breakdown of the area 1.0850, which will indicate the cancellation of the Forex model of the Wedge and the continuation of the upward trend in the pair.
Among the important news that may affect the euro against the dollar, it is worth highlighting the Business Activity Index, Composite PMI Index, Changes in the volume of orders for durable goods in the US, the index of business activity in the manufacturing sector.
EUR/USD Forecast Euro Dollar on 24 March, 2017 involves an attempt to fall within the framework of the start of the Wedge model with the first reduction target near the area of 1.07, the breakdown of which will indicate that the decline continues to the level below the level of 1.0620.
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