This week, EUR/USD pair showed the breaking down of 1.10 level, but the “bears” were not able to keep the result.
On the daily EUR/USD chart we can see that the downward movement slowed on a strong support level of 1.10, but is traded within a pulse corridor. RSI indicator still shows the potential to reduce.
Thus, EUR/USD forecast for the 02/29/2016 – 03/04/2016 week assumes the former aim to reduce down to 1.08 level. The scenario will be canceled if the “bears” will not be able to push the quotes below 1.10 and the price will go a way out of the formed downward channel
