Currency pair EUR USD showed a strong rebound from the support area 1.05. Only the breakdown of this level will indicate the continuation of decline in the euro. At the moment, the value of the relative strength indicator again repelled by the descending trend line, indicating that the attempt of the next fall of the euro against the US dollar with the first target at the level of 1.05.
EUR/USD Forecast Euro Dollar on March 7, 2017
Cancellation option can be a breakdown 1.0650 area, which point to continued growth in EUR/USD in the area of the upper limit of Forex Triangle patterns. We are trying to sell the euro with a close stop loss.
Among the important news that could affect the rate of the euro against the dollar, we should mention, the volume of orders Change in the industry in Germany, the expected strong decline from the level of 5.25 to the level of -2.5%, which could put pressure on the euro tomorrow, the balance of foreign trading in the US, is expected to change in the level of -44.3B to -47B level.
EUR/USD Forecast Euro Dollar on March 7, 2017 suggests an attempt to rebound from the resistance area and the pair falling to 1.05 support level, the breakdown of which points to a decrease in quotations in the area below 1.0350.
