The currency pair EUR USD continues to repulse from the resistance area near the level of 1.0620. At the moment, we should expect the continuation of the fall in the support area at the level of 1.05. The breakdown of this area will indicate the continuation of the decline to the level of 1.0350.
EUR/USD Forecast on March 8, 2017
In favor of the continuation of the fall of quotations of the euro, the dollar will break through the upward trend line on the indicator of relative strength. We continue to hold sales of the pair EUR/USD and try to increase the volume of short positions in the pair.
By canceling the variant of falling of quotations of euro the dollar will be the breakdown of the region 1.0650, which will indicate continuation of the pair’s growth to the area above the level of 1.0850.
Among the important news that may affect the euro against the dollar, it is worth highlighting, the change in the number of employees from ADP in the US, as well as the change in the level of labor productivity in the non-manufacturing sector in the US.
EUR/USD Forecast on March 8, 2017 suggests an attempt to continue the decline in the support area at the level of 1.05, the breakdown of which will indicate the continuation of the decline in the area below the level of 1.0350.
