The currency pair Euro Dollar EUR/USD was able to break the upper limit of the Forex Triangle model and at the moment the pair is trading near the area of 1.0720. One should expect an attempt to correct the broken trend line on the indicator of relative strength and the continuation of the growth of quotations of the euro dollar in the area above the level of 1.08.
EUR/USD Forecast Euro Dollar on April 20, 2017
The cancellation of the option will be the fall and breakdown of the area 1.0650, which will indicate the continued decline in the euro-dollar pair. The goal of the upward movement may be the area at the level of 1.0850, where it is expected to complete the formation of the right shoulder of the head and shoulders reversal pattern and the beginning of the fall of EUR/USD into the parity area.
Among the important news that may affect the euro against the dollar, it is worth highlighting, the Fed Fed Index, the number of initial applications for unemployment benefits, the number of repeated applications for unemployment benefits.
EUR/USD Forecast Euro Dollar on April 20, 2017 involves an attempt to fall to the area of 1.0690, where we can expect a rebound and a pair growth with the target near the level of 1.0850, the breakdown will be the breakdown of the area 1.0650, which will indicate the continued decline of the euro dollar.
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