The currency pair EUR/USD closed the trading week at the level of 1.0671. Quotations of the pair were able to show growth even despite good data on US unemployment. The euro dollar continues to trade within the Triangle model, as well as within the downward channel. In the current trading week, one should expect an attempt to test the upper boundary of the channel and continue falling with the aim of decreasing at the level of 1.0550, the breakdown of this region will indicate the acceleration of the decline with the potential target at the level of 1.0350.
EUR/USD Forecast on March 13, 2017 — March 17, 2017
In favor of the variant of falling quotations of the euro, the dollar will perform a tight test of the downtrend line of the trend, from which we have already seen the drop in the EUR/USD quotes. Canceling the option of reducing the pair will be a breakdown of the upper boundary area of the Triangle model with the closing of quotes above the area of 1.0850, which can trigger growth in the area above level 1.11.
Among the important news on the next trading week that may have an impact on the EUR USD rate is worth highlighting, ECB President Mario Draghi’s Speech March 13, 2017, US Producer Price Index on March 14, 2017, FOMC Fixed Interest Rate decision, also FOMC statement March 15, 2017 , Philadelphia Manufacturing Index, The number of initial applications for unemployment benefits March 16, 2017, Consumer sentiment index from the University of Michigan March 17, 2017.
EUR/USD Forecast on March 13, 2017 — March 17, 2017 involves an attempt to test the upper boundary of the descending channel and the beginning of the fall in the area of 1.0550, the breakdown of which will indicate a decrease to the level of 1.0350, the breakdown of the region will be 1.0850, which will indicate the completion of the decline in the euro dollar.
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