Currency pair Euro Dollar EUR/USD completes the trading week near the area of 1.1976. The pair continues to trade within the bullish channel. At the moment, there is a potential for falling quotations of the euro and a breakdown of the lower boundary of the channel with a potential target near the area of 1.17.
EUR/USD weekly forecast on September 18 — 22, 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), as well as the breakdown of the bullish support line. 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. Expect the completion of the upward trend for the euro is with the breakdown of the area of 1.1850.
Among the important news from America and Europe on the following trading week, which can influence the EURUSD rate is worth highlighting: The volume of issued construction permits, FOMC decision on the basic interest rate, FOMC Press Conference, The number of initial applications for unemployment benefits.
EUR/USD weekly forecast on September 18 — 22, 2017 involves an attempt to fall the pair in the area of 1.17 as part of the development of the reversal model on the relative strength indicator (RSI), the breakout will break through the area of 1.2250, which indicates the continued growth of the euro/dollar on Forex.
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