The currency pair Euro Dollar EUR/USD continues to decline as part of the downgrade of the downside forex model of the Wolf wave with a potential fir-tree below the area of 1.0420. At the moment, the values of the relative strength indicator were likely able to break through the support lines, which may provoke the continuation of the decline in the near future.
EUR/USD Forecast Euro Dollar on April 3, 2017
However, do not exclude a tight test of the broken line and the growth of quotations of the first dollar in the area above the level of 1.07. The reduction goal will be a similar line on the price chart, a test of this line should be expected near the area of 1.0560. Canceling option c will be a breakdown of the resistance line on the indicator of relative strength, which indicates a deeper correction of the pair in the area above the level of 1.0790.
Among the important news that can affect the euro against the dollar, it is worth highlighting the ISM manufacturing index in the US.
EUR/USD Forecast Euro Dollar on April 3, 2017 involves an attempt to continue the decline in the area below the level of 1.0560 as part of working through a broken trend line on the indicator of relative strength.
