The currency pair Euro Dollar EUR/USD finished the trading week at the level of 1.0893. The pair continues to test the area of the upper boundary of the rising channel, which is a serious resistance at the moment. It is worth to expect an attempt to rebound the euro exchange rate and fall into the area below the level of 1.0750.
EUR/USD Forecast Euro to US Dollar May 1 — 5, 2017
In favor of falling quotes EUR/USD is a tight test of the resistance area on the indicator of relative strength. The cancellation will be a strong growth and breakdown of the region 1.10, which will indicate the acceleration of the growth of quotations of the euro dollar within the breakdown of the upper boundary of the rising channel. To expect the resumption of the downward movement in the pair of euros the dollar is worth a breakdown of the area of 1.0550.
Among the important news from America and Europe in the next trading week that may have an impact on the EUR/USD rate is worth highlighting, the ISM Production Index on May 1, 2017, the change in the number of employees from ADP, the FOMC decision on the basic interest rate, the FOMC Accompanying Statement May 3, 2017, The number of initial applications for unemployment benefits on May 4, 2017, the unemployment rate and NON-FARM PAYROLLS May 5, 2017.
EUR/USD Forecast Euro to US Dollar May 1 — 5, 2017 involves an attempt to test the upper border of the channel and the beginning of the fall in the area below the level of 1.0750, to expect the resumption of the downtrend is with the breakdown of the area 1.0550.
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