The currency pair Euro to US Dollar EUR/USD continues to trade near the local maximum area after the publication of the NON-FARM PAYROLLS. Presumably, on a pair of EUR/USD, the «Double Top» reversal pattern is formed, which indicates a drop in quotations to the area below the level of 1.1200.
EUR/USD forecast Euro Dollar on July 10, 2017
It is worth waiting for an attempt to fall into the area of the lower boundary of the bullish channel. In favor of the fall will break the support line on the indicator of relative strength index (RSI). The cancellation of the fall option will be a breakdown of the upper border of the channel, which will indicate the continued growth of the euro/dollar.
Important news from Europe and America is not expected, so the pair will continue to move within the technical analysis of EUR/USD.
EUR/USD forecast Euro Dollar on July 10, 2017 involves an attempt to fall to the lower boundary area within the beginning of the reversal model «Double Top», the target of the fall is the area below the level of 1.12, the cancellation will be breakdown at level 1.15, in this case it is expected to accelerate growth.
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2 Comments
If the double top formation on the daily chart of the EUR/USD pair is anything to right home about, then I really expect a fall to the 1.12 level,….
Be that as it were, the 1.12 level also serve as a strong support area on an ascending channel; which once broken would dip the pair more but if not broken, would surge the pair well above into the 1.15 level,…
Hmmm,… which is most likely to happen???
yes ,i see the same way..by next week be above$60..