The currency pair Euro to US Dollar EUR/USD continues to trade as part of the bullish impulse. At the moment there is a potential for completing the formation of a bearish model 5-0, which will indicate a potential rebound from the upper border of the channel and the beginning of the fall of the pair’s quotes in the area below the level of 1.0850.
EUR/USD forecast Euro Dollar on May 16, 2017
In favor of falling quotations of the Euro to US Dollar is a test of the resistance area on the indicator of relative strength. Canceling the option of reducing the pair is strong growth and breakdown of the local maximum area, which will indicate the continued growth of the pair EUR/USD.
Among the important news that may affect the euro against the dollar, it is worth highlighting, Volume of issued construction permits, is expected to slightly change the indicator from the level of 1260K to 1270K, but the publication of this news may trigger volatility in the pair.
EUR/USD forecast Euro Dollar on May 16, 2017 involves an attempt to test the area of the upper boundary of the descending channel and the beginning of the fall in the working of the bearish Wolff wave model, do not forget about the formation of the reversal pattern the failed swing on the daily chart of the pair EUR/USD.
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