The currency pair Euro to US Dollar EUR/USD continues to trade within a strong upward momentum. At the moment, there is potential for the formation of the Expanding Formation model, which involves testing the upper boundary of the model and the beginning of the fall.
EUR/USD forecast Euro Dollar on May 17, 2017
It is worth waiting for the test area 1.1075, where we can expect an attempt to reduce the euro dollar. The cancellation of the fall variant of the pair will be the breakdown of the region 1.11. Consider selling the pair Euro to US Dollar EUR/USD with a breakdown of the lower boundary of the rising channel.
Among the important news that can affect the euro against the dollar, it is worth highlighting, the Consumer Price Index, the change in the volume of production supplies in the US.
EUR/USD forecast Euro Dollar on May 17, 2017 suggests an attempt to test the area of 1.1075, from which one should expect a rebound and a fall in the pair within the beginning of the development of the Forex model. An expanding formation, the abolition of the decline option may become a breakdown of the region 1.11.
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