Currency pair Euro to US Dollar EUR/USD closes the trading week near the area of 1.1760. The pair continues to trade within the rising channel. At the moment, the potential for continuing the decline of the pair to the lower boundary of the channel at the level of 1.1580 remains.
EUR/USD weekly forecast on August 14 — 18, 2017
Where again we should expect a rebound and continued growth of the Euro/Dollar above the level of 1.19. In favor of EUR/USD growth, a support line test will be performed on the relative strength indicator (RSI). Cancellation of the growth option will be a drop and breakdown at the level of 1.1450, indicating that the pair will continue to fall below 1.09.
Among the important news from America and Europe in the next trading week that can influence the EUR/USD rate is: Retail trade volume change, Volume of issued construction permits, Publication of the minutes of the Fed meeting, Number of initial applications for unemployment benefits.
EUR/USD weekly forecast on August 14 — 18, 2017 suggests an attempt to reduce to the region of the lower border of the channel near the area of 1.1580, from which it is expected to rebound and continue the growth of the pair with a potential target above area 1.19.
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