The currency pair Euro to Dollar EUR/USD continues the development of growth in the framework of the previous forecast of the euro dollar for each day. At the moment, the potential for continuing the growth of the pair’s quotations to the area above the level of 1.08 remains, where it is expected to complete the formation of the right shoulder of the reversal Forex Head and Shoulders model with the potential purpose of working near the 1.01 area.
EUR/USD Forecast Euro Dollar on April 21, 2017
The abolition of the option of continuing the growth of quotations of the euro dollar will be the fall and the breakdown of the region 1.07 that will indicate the continuation of the development of a downward trend in the pair.
Among the important news that may affect the euro against the dollar, it is worth highlighting the Composite PMI in Germany, the EU Business Activity Index, the US manufacturing activity index, the secondary housing sales volume, ECB President Mario Draghi .
EUR/USD Forecast Euro Dollar on April 21, 2017 suggests an attempt to continue growth in the area above the level of 1.08 as part of working out the width of the pierced channel, near the area of 1.0850, we should expect the euro to start lowering its quotes with a potential target near the 1.01 area.a
