The currency pair Euro Dollar EUR USD continues to move within the framework of the Forex Triangle model, the pair quotes failed to penetrate the lower boundary of the model. Tomorrow is expected to publish the indicator NON-FARM PAYROLSS, you should expect the growth of volatility and potential breakdown of the lower boundary of the Triangle model, which indicates the continued decline.
EUR/USD Forecast Euro Dollar on March 10, 2017
In favor of falling quotations of the euro the dollar is a test of the downward trend line on the indicator of relative strength, as well as the formation of the FOREX Model of the Head and Shoulders, which indicates a decline already from current levels. Abolishing the variant of falling of quotations of euro the dollar will be the breakdown of the region 1.0650, which will indicate the continuation of growth in the area above the level of 1.08. Expect to accelerate the fall in quotations EUR/USD stands with the breakdown of the area of the lower boundary of the Forex model.
Among the important news that may affect the euro against the dollar, it is worth highlighting, the US unemployment rate, the change in the number of people employed in the non-agricultural sector NON-FARM PAYROLSS, is expected to decline from 227K to 185K, which could put pressure on the US Dollar.
EUR/USD Forecast Euro Dollar on March 10, 2017 involves a rebound attempt from the upper boundary of the Triangle model and continued decline with the breakdown of the area 1.05, the cancellation will be the breakdown of the area 1.0650.
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