The currency pair EUR USD continues to move within the framework of the Forex Triangle model and at the moment the quotes of the pair are repelled from the upper limit of the model. It is worth to expect an attempt to fall into the area below the level of 1.0620, the breakdown of which will indicate a decrease in the area of the lower boundary of the model.
EUR/USD Forecast Euro Dollar on March 21, 2017
In favor of the decline is the formation of the reversal Forex Head and Shoulder models on the relative strength indicator, as well as the descending Woolf wave model with the aim of falling below the area of 1.0550. Canceling the variant of the euro’s fall, the dollar will be a breakdown of the area 1.08, which will indicate that the quotes are out of the upper bound of the Triangle model.
Among the important news that may have an impact on the euro against the dollar, it is worth highlighting, Donald Trump’s speech, Balance of the current account of the balance of payments, is expected to slightly change from -113.0B to -129.0B.
EUR/USD Forecast Euro Dollar on March 21, 2017 involves an attempt to fall to the area of 1.0620 within the rebound from the upper boundary of the Forex Triangle model, canceling the breakdown of the region 1.08.
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