Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.2050. The pair continues to trade within the bullish channel. At the moment, there is a potential for breaking the lower border of the channel and reducing the quotations to the support area at the level of 1.1650.
EUR/USD weekly forecast on September 11 — 15, 2017
In favor of the fall of EUR/USD is the formation of a reversal model the «Failure Swing» on the indicator of relative strength index (RSI). The cancellation of the fall option will be a strong growth and breakdown at 1.2250, indicating that the pair will continue to grow above 1.25. To expect the completion of the upward trend in the euro is worthwhile with the formation of the «Head and Shoulders» reversal model and breakdown of the area of 1.1550, which points to a potential test of the level of 1.1250.
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, Consumer Price Index, Consumer Price Index excluding food and energy prices, The number of initial applications for Unemployment, Changes in the volume of retail trade.
EUR/USD weekly forecast on September 11 — 15, 2017 implies a fall in the area of 1.1650 as part of the development of the reversal model on the relative strength indicator (RSI), the breakout of the region 1.2250 will act, which will indicate the continued growth of the euro/dollar on Forex.