The currency pair Euro Dollar EUR/USD went into the development of the upward correction and at the moment the quotations of the pair are traded at the level of 1.0605. However, the potential for continuing the fall of quotations of the euro dollar to the area below the level of 1.0560 remains. In favor of the fall is a tight test of the upper boundary of the descending channel.
Technical analysis and Forecast EUR/USD on April 12, 2017
An additional signal will be a breakdown of the upward trend line on the indicator of relative strength, which will indicate the breakdown of the local minimum area by closing prices. The abolition of the euro’s decline will be a strong growth and breakdown of the region 1.0650, which will indicate the continuation of the development of the upward correction for the euro.
Among the important news from Europe and America, which can affect the euro against the dollar, it is worth highlighting, the Import Prices Index in the United States, the speech of a FOMC member with a speech.
Technical analysis and Forecast EUR/USD on April 12, 2017 involves a rebound attempt from the upper boundary of the downward channel and the continuation of the fall into the area below the level of 1.0560, the cancellation will be the breakdown of the area of 1.0650 with closing prices.
