Currency pair EUR USD continues to move through the turn, at the moment the pair left the rising channel and test the support area at 1.0650.
With the current levels there are risks to see the formation of topping model, head and shoulders, for this pair may show growth in the area above the level of 1.0740 and from there again to show a drop to 1.0520 immediately.
Forex EUR USD Forecast on February 8, 2017
But do not exclude the option of continuing the fall since the current levels in the next area of support near 1.0520. Cancellation option will be a strong growth area and the breakdown of the local maximum with the closing quotes above level 1.0850.
Among the important news in Forex, which may have an impact on the euro dollar, we should mention, by the European Commission forecast on the economy.
Forex EUR USD Forecast on February 8, 2017 suggests an attempt correction to 1.0720, which is expected to complete the formation of reversal pattern Forex Head and Shoulders and continued falling at the same time, we should not exclude an attempt to continue the reduction from current levels.
