The currency pair of the euro dollar EUR USD continues to move within expectations, the pair showed growth slightly higher than expected, but the potential for falling quotations of the euro dollar remains. In favor of the decline in quotes EUR/USD is the forcing of the reversal Forex Model Head and shoulders on the indicator of relative strength.
EUR/USD Forecast Euro Dollar on March 17, 2017
The immediate goal of the decline is the area at the level of 1.0620, the breakdown of which will indicate the continuation of the decline in the area below the level of 1.05. By abolishing the variant of the fall of the euro-dollar pair, the breakdown of the region 1.08, which indicates the exit of quotations outside the upper bound of the forex model of the Triangle, in this case one should expect an attempt at growth in the framework of working out such a model with a goal above the level of 1.10-1.12.
Among the important news that could affect the euro against the dollar, it is worth highlighting the Consumer Moods Index from the University of Michigan, the growth of the indicator from 96.3 to 97.1 is expected, which can support the US dollar rate, as well as the speech of ECB President Mario Draghi with Speech.
EUR/USD Forecast Euro Dollar on March 17, 2017 involves an attempt to fall within the framework of the start of Forex development of the Head and shoulders model on the indicator of relative strength with the aim of falling at the level of 1.0620.
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