The currency pair EUR/USD Euro to US Dollar continues to be traded near the local maximum area and at the moment there is a potential for falling quotations of the euro dollar in the area below the level of 1.0780. In favor of the fall of the pair is the breakdown of the ascending trend line on the indicator of relative strength.
EUR/USD Forecast Euro to US Dollar on May 2, 2017
The abolition of the variant of the euro’s dollar decline will be strong growth and breakdown of the local maximum area, which will indicate the continued growth of the pair. Expect to accelerate the decline in EUR/USD is with the breakdown of the lower limit of the Forex Triangle model.
Among the important news that could affect the euro against the dollar, it is worth highlighting, the PMI index for the production sector in Spain, is expected to increase slightly from the level of 53.9 to 54.3, which may provide short-term support for the European currency.
EUR/USD Forecast Euro to US Dollar on May 2, 2017 involves an attempt to fall quotes of the pair in the area below the level of 1.0780 as part of working through the broken trend line on the indicator of relative strength, cancel will be a strong increase in the breakdown of the local maximum area.
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