The currency pair Euro to US Dollar EUR/USD continues to trade near the local maximum area, at small time intervals, form the reversal Forex Head and Shoulders model. It is worth waiting for an attempt to continue the fall of the euro against the US dollar in the area below the level of 1.0850, as part of the model’s development.
EUR/USD Forecast Euro to US Dollar on May 9, 2017
The abolition of the first dollar’s decline option will be a strong growth and breakdown of the local maximum area, which will indicate that the pair’s quotes continue to grow above 1.10. In favor of the fall of EUR/USD is the rebound of the relative strength indicator from the broken trend line, which also indicates the presence of a strong resistance area.
Among the important news that could affect the euro against the dollar, it is worth highlighting, the level of vacancies and turnover of labor from the Bureau of Labor Statistics, is expected to decline from 5743K to 5670K.
EUR/USD Forecast Euro to US Dollar on May 9, 2017 involves an attempt to drop the fall to the area of 1.0850 as part of the development of the Head and Shoulders model, the breakdown will be the breakdown of the local maximum area, which will indicate the continued growth of the pair’s quotes.
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