The currency pair of the euro dollar EUR USD continues to move within the framework of the development of the forex model of the Woolf wave with the aim of lowering the area below 1.0470. At the moment there is a potential for the rebound of quotations of the euro-dollar pair to the area above the level of 1.0670, where again we should expect a fall attempt with a tight test of the area 1.05.
EUR/USD Forecast Euro Dollar on March 16, 2017
In favor of the option of continuing the decline will form a reversal Forex Head and Shoulder models on the indicator of relative strength. A signal in favor of acceleration of the fall will be a breakdown of the upward trend line on the indicator of relative strength. Abolishing the variant of the euro’s fall, the dollar will be the breakdown of the region 1.0720, which will indicate the continuation of growth in the area above the level of 1.0850.
Among the important news that could affect the euro against the dollar, it is worth highlighting, the volume of issued construction permits in the US, the production index of the Fed-Philadelphia, is expected to decline from the level of 43.3 to the level of 30.2, the number of initial applications for unemployment benefits, is expected A slight change from 243K to 245K.
EUR/USD Forecast Euro Dollar on March 16, 2017 suggests correction to the area of 1.0670, where we should expect a fall in the development of the reversal forex model Head and shoulders on the indicator of relative strength.
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