Currency pair Euro Dollar EUR/USD completes trading week near the area of 1.1890. At this point, we should expect an attempt to test the upper limit of the descending channel and continue falling to the area below the level of 1.1480. In favor of the fall of EUR/USD is the test of the resistance line on the indicator of relative strength, as well as the formation of the reversal model «Head and Shoulders».
EUR/USD weekly forecast on on December 4 — 8, 2017
The abolition of the fall option will be a strong growth and breakdown at the level of 1.2050, indicating that the pair will continue to grow above 1.2350. Expect the acceleration of the fall of the Euro/Dollar on FOREX stands with the breakdown of the level of 1.1750.
EUR/USD weekly forecast on on December 4 — 8, 2017 involves an attempt to test the upper limit of the downward channel near the level of 1.1900, from which it is expected to attempt a rebound and continue falling of the pair with a potential target at 1.1480, the cancellation of the euro’s fall variant will be a breakdown at 1.12050 level.