Currency pair EUR USD at the current trading week, was able to show a rebound from the upper border of the descending channel and has the potential to fall continued drop in prices to below the level of 1.0350. In favor of the continuation of falling of euro dollar quotes appears breakdown ascending trend line on the indicator of relative strength.
EUR USD Forecast Euro Dollar on February 13, 2017 — February 17, 2017
Cancellation option drop in prices of the currency pair EUR/USD will be the breakdown of the upper boundary of the descending channel and growth of the pair above the 1.0870 level.
The immediate quality support area is the area at the level of 1.05, if the couple will be able to show growth on these levels is expected to try to form a reversal pattern head and shoulders upside, if this area is quickly broken, we should expect the continuation of the downward trend for the pair.
Among the important events in the next trading week, 13 – 17 February 2017, which could have a strong impact on the euro, is to provide, Changes in the volume of GDP in Germany, the Producer Price Index, the speech of the Federal Reserve Janet Yellen, the news will be presented February 14, 2017. On Wednesday, February 15, 2017, the Consumer Price Index, Retail Sales, and the next speech of the Fed’s Janet Yellen. On Thursday, February 16, 2017, volume of building permits issued and Manufacturing Philadelphia Fed index.
EUR USD Forecast Euro Dollar on February 13, 2017 — February 17, 2017 suggests an attempt to continue falling in the framework of working out the broken trend line on the indicator of relative strength with the potential to reduce to below 1.0305 area.
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