The currency pair Euro to US Dollar EUR USD has completed the trading week at the level of 1.0797. The pair continues to move within the framework of the Forex Triangle model. Quotations test the upper limit of the model and expect a rebound attempt and the beginning of the fall to the lower boundary at the level of 1.0560. In favor of falling quotations of the euro the dollar is a tight test of the downward trend line on the indicator of relative strength, this line has several times pointed to the fall of quotations of the euro-dollar pair from the daily chart of the pair.
EUR/USD Forecast on March 27, 2017 — March 31, 2017
The abolition of the variant of the euro’s fall will be a strong growth and breakdown of the area 1.0860, which will indicate the Triangle breakdown, as well as the outflow of the descending channel to EUR/USD. Expect to accelerate the decline of the pair is with the breakdown of the lower boundary of the Triangle model and the breakdown of the upward trend line on the indicator of relative strength.
Among the important news on the next trading week that may have an impact on the EUR USD rate is worth highlighting, the US consumer confidence indicator is expected to slightly decrease from 114.8 to 113.9, Speech by Fed Chairman Janet Yellen with a speech on March 28, 2017, The number of initial appeals For unemployment benefits in the US on March 30, 2017, is expected to decline from 258K to 244K, which could put pressure on the US dollar.
EUR/USD Forecast on March 27, 2017 — March 31, 2017 suggests a rebound from the upper boundary of the Triangle model and the beginning of the fall in the area of 1.05, breakdown at 1.0860 will cancel this scenario and point to the potential growth of the euro dollar.
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