The currency pair EUR/USD Euro to US Dollar is trading at 1.0877. The pair continues to trade near the local maximum area. At this point, there is potential for the formation of the reversal Forex Head and Shoulder models on the MACD indicator and the continuation of the decline in the euro-dollar quotes. However, to reduce it is important to see the completion of the formation of the right shoulder of the model, so do not exclude the growth of EUR/USD quotations in the area above the level of 1.0935 before the start of the pair’s decline.
Technical analysis & forecast EUR/USD on April 28, 2017
An additional signal in favor of a possible fall in the euro is the proximity of the upper boundary of the rising channel. Expect to accelerate the decline is with the breakdown of the level of the slow moving average and the closing of quotations below the area of 1.08. The abolition of the variant of the euro’s fall will be a strong growth and breakdown of the region 1.10, in this case it is expected to accelerate the pair’s growth within the breakdown of the upper boundary of the rising channel.
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