Currency pair EUR USD continues to trade within a descending channel. currently quotes were able to show a rebound from a broken border forex model Triangle, where the couple spent the last 2 years. Now preserved potential for continuation of falling of quotations of the dollar the euro to below the level of 1.0350 with a potential test 1.01 area as part of the descending forex 1:1 model.
EUR/USD forecast Euro Dollar March 2017
The aim falling within the mining model Triangle is the area on the level below 0.92. In favor of a continuation of the fall is the rebound of a downward trend line on the indicator of relative strength. Cancellation option of continuing drop in prices pair EUR/USD in March 2017 can be broken through the resistance area and the closing quotations of the pair above 1.09 area, which point to a return into the model triangle and the continued growth in the region above the level of 1.13.
Among the important news from Europe and America, which can have an impact on the euro against the dollar in March 2017, is to provide, Publication of the ECB’s decision on the basic interest rate and press conference of the ECB 9 March 2017, it is expected that the rate will remain at the level of change 0%, which will put pressure on the euro in March. The US unemployment rate, change in the number of people employed in non-farm (NON-FARM PAYROLLS) March 10, 2017, FOMC decision on the basic interest rate and the FOMC accompanying statement March 15, 2017.
EUR/USD forecast Euro Dollar March 2017 suggests an attempt to continue falling with the first target at 1.0350 in the framework of the descending forex 1:1 model, as a potential target of the fall is the area of 0.92, the cancellation option will break-down field 1.09, which points to the development of growth with a view above the area 1.13.
