Currency pair EUR USD continues to move in the descending channel and bearish forex model with a potential target of the fall in the parity level, but the performance of Donald Trump may slightly change the picture.
EUR/USD Forecast Euro Dollar on January 12, 2017
In favor of continuing downward trend in the euro the dollar will perform sample local minimum area with the closing quotation below 1.03 areas, in case of breakdown of the descending channel’s upper boundary is expected to attempt a reversal of the trend in favor of long-term growth.
We are trying to sell the euro against the dollar in the rebound from the resistance area, with a view to fall in the level of support. In favor of reducing the EUR USD advocates the completion of formation of topping models forex head and shoulders on the indicator of relative strength.
Among the important news that can have an impact on the euro dollar tomorrow January 12, 2017, is to provide the ECB with a report on monetary policy meeting, and the number of initial applications for benefits for unemployment in the US.
EUR/USD Forecast Euro Dollar on January 12, 2017 suggests an attempt to fall in the rebound from the upper border of the descending channel with the first goal of the fall in the level of 1.0320.
