The currency pair euro dollar EUR USD continues to move within the framework of strong growth and at the moment the quotes of the pair break through the upper limit of the Triangle model, consolidation above these levels may indicate continued growth in the area above level 1.10 within the Triangle model.
EUR/USD Forecast Euro Dollar on March 22, 2017
However, at the moment, the next Wedge model is being formed on smaller time intervals, which indicates a potential decrease in the euro dollar, to consider selling costs with a breakdown of the trend line on the indicator of relative strength, which indicates a tight test of the area 1.07. Moreover, we should not exclude the continuation of the development of the downward trend within the trend line test on the relative strength indicator on the daily chart of the euro.
Among the important news that can affect the euro against the dollar, it is worth highlighting, the volume of sales in the secondary market in the US.
EUR/USD Forecast Euro Dollar on March 22, 2017 involves an attempt to develop a correction in the forex model of the Wedge, in the case of consolidation above the area of 1.08, we should expect the continuation of the growth of the euro against the US dollar.