The currency pair of the euro dollar EUR USD has completed the trading week at the level of 1.0735. The pair continues to trade within the framework of the Triangle forex model and is currently tightly testing the area of the upper boundary of the model, which indicates a possible rebound of quotations of the euro dollar in the region of the lower boundary of the model near the level of 1.0520.
EUR/USD Forecast on March 20, 2017 — March 24, 2017
In favor of the option of continuing the fall of the pair EUR/USD is the test of the downward trend line on the indicator of relative strength. With the breakdown of the area 1.0520, which indicates the continuation of the decline in the area below the level of 1.0350 within the beginning of the development of the forex model Triangle. By canceling the variant of falling of quotations of euro the dollar will be the breakdown of the region 1.0850, which will indicate the completion of the decline and development of the upward trend along with a potential growth target above the area of 1.12.
Among the important news on the next trading week that may affect the EUR USD rate is worth highlighting, The number of initial applications for unemployment benefits in the US, is expected to slightly change the index from the level of 241K to 240K, Speech by the head of the Federal Reserve, Janet Yellen, with a speech on March 23, 2017 , The change in the volume of orders for long-term goods in the US on March 24, 2017.
EUR/USD Forecast on March 20, 2017 — March 24, 2017 involves an attempt to fall within the rebound from the upper limit of the Triangle model with the first purpose of reducing near the lower boundary of the model on Level 1.0520, the breakdown of which will indicate the continuation of the decline in the area of 1.0350.
