The currency pair euro dollar EUR USD continues to move within the framework of the beginning of the downward adjustment of the Forex forex model of the Wolf wave with the aim of falling below is hugging 1.0720. With the breakdown of the upward trend line on the indicator of relative strength, one should expect an attempt to complete the development of the upward trend in the pair.
EUR/USD Forecast Euro Dollar on March 29, 2017
It is likely that the pair will be able to form a reversal forex model of the Head and shoulders, which will indicate the continuation of the decline.
In favor of a possible drop in the EUR/USD quotations, the formation of a bullish wave model of the Wolf at the dollar index on the daily chart appears, indicating a likely strong growth of the dollar in the near future. However, this model allows the reduction of quotations DXY in the area just below the line of the model in the area of the suite zone.
Among the important news that may affect the euro against the dollar, it is worth highlighting, the change in the volume of unfinished transactions for the sale of housing, as well as the speech of a FOMC member with a speech.
EUR/USD Forecast Euro Dollar on March 29, 2017 suggests an attempt to continue the decline as part of the development of the downward wave of Wolf, but talk about the completion of the pair growth is with the breakdown of the upward trend line on the indicator of relative strength.
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