Forecast EUR USD ForexEuro Dollar on November 24, 2016


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Currency pair EUR USD continues to trade within a descending channel. In general, the pair is testing the strong support area, the breakdown of which points to the objectives 0.92. At the moment, there are risks of a rebound and the development of a major upward correction before the fall, but there is a reversal of forex market painted model head and shoulders, that will indicate a potential drop in the EUR USD quotes 1.0570 area below.

Forecast EUR USD ForexEuro Dollar on November 24, 2016

Forecast EUR USD ForexEuro Dollar on November 24, 2016

We try to sell the pair with the tight stop, but the breakdown of the 1.0680 area is likely provoke a correction and the growth of quotations of the dollar in the euro area above the level 1.0750, which will give a high quality area to sell the pair.

Forecast EUR USD ForexEuro Dollar on November 24, 2016 suggests an aggressive attempt to continue falling in the framework of the descending pattern head and shoulders in order to reduce an area below 1.0570.

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