The currency pair euro dollar EUR/USD continues to be traded near the area of 1.0650. At the moment, the potential for downward movement in the pair remains, but there are risks of seeing a correction in the area above the level of 1.07 as part of the completion of the downward model 5-0.
EUR/USD Forecast Euro Dollar on April 5, 2017
In favor of the rebound will perform a tight test of the support line on the indicator of relative strength. Canceling the correction option will be the fall and breakdown of the area 1.0620, which will indicate the acceleration of the decline with the target near the level of 1.0560. In the case of strong growth and breakdown of the region of 1.0780, one should expect the continuation of the development of growth with a potential test of the local maximum region.
Among the important news that could affect the euro against the dollar, it is worth highlighting, the change in the number of employees from ADP, is expected to decline from 298K to 191K, Composite Index ISM for non-manufacturing sphere, Publication of the minutes of the Fed meeting.
EUR/USD Forecast Euro Dollar on April 5, 2017 suggests an attempt to develop correction in the area above the level of 1.07 and the continuation of the fall, cancellation will fall and breakdown of the area 1.0620.
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