The currency pair EUR/USD continues to trade near the local maximum area. It is worth to expect an attempt to fall and breakdown of the area 1.0850 as part of the development of the reversal forex model. The failed swing on the indicator of relative strength. In favor of falling quotations of the euro, the dollar is also a breakdown of the upward trend line on the indicator of relative strength. Expect to accelerate the fall of quotations of the pair is with the breakdown of the support area, which indicates a decline in the area of 1.0790. The abolition of the reduction option will be a strong growth and breakdown of the local maximum area.
EUR/USD Forecast Euro to US Dollar on May 4, 2017
Among the important news that could affect the euro against the dollar, it is worth highlighting, the number of initial applications for unemployment benefits in the US, is expected to decline from 257K to 246K, which can support the dollar against the euro, the speech of the president of the European Central Bank Mari Draghi with a speech.
EUR/USD Forecast Euro to US Dollar on May 4, 2017 suggests an attempt to fall to the area below the level of 1.0850 as part of the development of the reversal model on the relative strength indicator, the breakdown of the region 1.0980 will be a cancellation.
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