Currency pair Euro to Dollar EUR/USD completes trading week at the level of 1.1170. It is worth waiting for an attempt to test the area of 1.1250 as part of the completion of the «Head and Shoulders» reversal pattern. Whence it is necessary to expect falling of quotations with the first target near level 1.10.
EUR/USD weekly forecast June 19 — 23, 2017
Cancellation of the variant of falling of quotations of euro dollar will be the breakdown of the local maximum area and the closing of quotes of the pair above the level of 1.1310, which will indicate the cancellation of the model and the continued growth of the pair. In favor of the fall is the breakdown of the upward trend line on the indicator of relative strength. Expect to accelerate the fall of EUR/USD with a breakdown of 1.1120 level.
Among the important news from America and Europe in the next trading week, which can have an impact on the EUR/USD rate is:
June 20, 2017, Current account balance of the balance of payments.
June 21, 2017, Sales of housing in the secondary market.
June 23, 2017, the index of business activity in the manufacturing sector, the index of business activity in the services sector, Composite Index PMI.
EUR/USD weekly forecast June 19 — 23, 2017 involves an attempt to complete the formation of the reversal pattern and the beginning of the fall after the test of the area of 1.1250, an additional signal will be a test of the broken trend line on the indicator of relative strength index, the breakdown will be the breakdown of the area 1.1310.
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