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 bullish channel. At the moment, the potential for continuing the decline of the pair in the area below the level of 1.1550 remains.
EUR/USD weekly forecast on August 7 — 11, 2017
Where again we should expect a rebound and a position of growth. In favor of the growth of the euro, the test of the support line on the indicator of relative strength index (RSI) will perform. 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 the following: Producer price index, Initial jobless claims, Consumer price index, Consumer price index excluding food prices and Energy carriers.
EUR/USD weekly forecast on August 7 — 11, 2017 suggests an attempt to continue falling to the lower border of the channel, where the rebound and the continued growth of the euro/dollar pair are expected.
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