The currency pair Euro to US Dollar EUR/USD is trading near the level of 1.0655. The pair continues to move within the downward trend due to the intersection of moving averages at the level of 1.0780. The values of the MACD indicator are decreasing and at the moment there is the potential for forming a divergence in the purchase of the euro against the dollar, which will indicate the likely upward correction of EUR/USD with the breakdown of the local minimum area.
EUR/USD Technical analysis on April 5, 2017
It is worth waiting for an attempt to continue the decline of the pair’s quotes from the current levels to fall near the level of 1.0570, where we should expect a rebound and the beginning of the correction development within the framework of signal processing in the purchase from MACD. The cancellation of the EUR/USD decline will result in strong growth and breakdown of the slow moving average area with the closing of quotations above the level of 1.0770, which will indicate a change in the trend in favor of the upside.
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