The currency pair Euro Dollar EUR/USD continues to move within the limits of the decline and at the moment the quotes of the pair are traded near the area of 1.0795. It is worth waiting for an attempt to test the support area near the level of 1.0750, where again we should expect a rebound and the beginning of the formation of the reversal Forex Head and Shoulders models, which will indicate the continued decline in the pair EUR USD quotations to the area below the level of 1.0620.
EUR/USD Forecast Euro Dollar on March 30, 2017
In favor of the likely completion of growth is the breakdown of the upward trend line on the indicator of relative strength. It is worth waiting for the attempt of the test of the broken trend line and the continued decline of the euro-dollar pair. Also, we should not exclude the formation of a large bearish wave model of Wolfe with a view to falling below the area of 1.0320. The abolition of the continuation of the decline in the quotations of the euro dollar will be a strong growth and breakdown of the local maximum area with a close above the area of 1.0950.
Among the important news that may affect the euro against the dollar, it is worth highlighting, the number of initial applications for unemployment benefits in the US, is expected to decline from 258K to 244K, which can support the dollar exchange rate, as well as consumer price indices in Germany.
EUR/USD Forecast Euro Dollar on March 30, 2017 involves an attempt to form a reversal forex model and continue the decline in the area below the level of 1.0620, in favor of the fall is the breakdown of the upward support line on the indicator of relative strength.
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