The currency pair Euro Dollar EUR/USD continues to be traded within the framework of the upward correction, but at the moment there is a potential for completing the formation of the reversal Forex Head and Shoulder models and the continuation of the fall of the euro dollar quotations to the area below the level of 1.0650.
EUR/USD Forecast Euro Dollar on April 24, 2017
The breakdown of this area will indicate the continuation of the decline to the area below the level of 1.0560. In favor of falling quotes EUR/USD is the breakdown of the upward trend line on the indicator of relative strength. By canceling the variant of falling of quotations of euro the dollar becomes breakdown of the local maximum area, which will indicate the cancellation of the development of the reversal pattern and the continued growth of the pair.
Among the important news that may affect the euro against the dollar, it is worth highlighting, the Business Environment Indicator from IFO in Germany, the Indicator of the current situation from IFO, the Indicator of economic expectations from IFO in Germany.
EUR/USD Forecast Euro Dollar on April 24, 2017 implies an attempt to fall below 1.0650 in the framework of the beginning of the development of the reversal Forex Head and Shoulders models, the breakdown of the area 1.0650 will indicate the continuation of the decline of the euro dollar in the area below the level of 1.0560.
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