Currency pair Euro Dollar EUR/USD completes trading week near the area of 1.1650. At the moment, we should expect a test of the neckline of the reversal model «Head and Shoulders» near the level of 1.1670 and the continuation of the fall.
EUR/USD weekly forecast on November 13 — 17, 2017
The target of working out the model of the «Head and Shoulders» is the area below the level of 1.1250. In favor of the fall of EUR/USD, a resistance line test will be performed on the indicator of relative strength index (RSI). The cancellation of the fall option will be a strong growth and breakdown at the level of 1.1950, which will indicate continued growth of the pair in the area above the level of 1.25 and the cancellation of the reversal model. Expect the acceleration of the fall of the Euro/Dollar on Forex stands with the breakdown of the level of 1.1520.
EUR/USD weekly forecast on November 13 — 17, 2017 suggests an attempt to continue the fall of the euro against the dollar as part of the development of the «Head and Shoulders» reversal model with the potential target of reducing near the area of 1.1250, the cancellation of the euro’s fall option will be a strong growth above the level of 1.1950, which will indicate the continued growth of EUR/USD on Forex and the cancellation of the model.